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Cryptoverse: Bitcoin's No Longer The King Of The Swingers

Cryptoverse: Bitcoin's No Longer The King Of The Swingers

NDTV
Tuesday, September 06, 2022 06:10:08 AM UTC

Bitcoin's average 30-day volatility - a measure of how its price varies over a set period of time - has slumped to 2.7% from over 4% in early July, according to data firm Coinglass.

Bitcoin's been called a lot of things. Buzzy, beguiling, baffling, even bogus. But never boring.

Yet, of late, it's been eerily subdued.

The king of the swingers has been uncharacteristically treading water for days at around $20,000 and hasn't ventured far beyond that since June.

That spells trouble for traders and exchanges that profit from bitcoin's wild price lurches, and is opening the door to its archrival ether which is preparing to up its crypto game by moving to a meaner and leaner blockchain.

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