Bitcoin’s current price surge appears like a moving train that nothing can stop. The leading crypto asset within the last 24 hours has broken the $50k barrier and has already climbed above that to reach a new all-time high of $51,630.86 according to data obtained from Coinmarketcap. This is a continuation of a run that began towards the end of last year and has run deep into the second month of this year.
Reports from Bloomberg have already said that the current run differs greatly from that of 2017 that only topped out below $20,000 due to its volatility. This is backed by Woobull Charts who claims that the current run of BTC has only witnessed a volatility rate below 15% while that of 2017 saw a rate as high as 32%. This means that the legendary price swings of the asset is somewhat minimal in comparison to that of the previous bull cycle.
However, BTC’s volatility still ranks higher than that of gold in the last three months. Skew, a crypto analytics provider, puts the digital asset volatility rate within this period at 90% which is five times more than that of the leading precious metal.
Analysts have already predicted that the increased entrance of institutional investors into the crypto industry would lead to a decline in the volatility rate of the market.