Few days back, I posted a quick note about the erroneous nature of Bitcoin-Gold comparatives. And yesterday, we had one of those events that highlights the same.
In summary of the event, SEC rejected an application for a Bitcoin ETF. And Bitcoin crashed. Inter-day volatility shot up through the roof. Which would have been bad enough, except it is the norm for Bitcoin
You can see just how unsurprising the current volatility is for the BTC, consider the following charts:
Pretty much by every metric of volatility, Bitcoin's latests wobble is minor, despite it being dramatic enough to set @Reuters and @Bloomberg folks all hopping with excitement. Thing is, folks, Bitcoin's volatility is in the league of financial widow-makers.
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