Kaiko Research Experts Say Oil is More Volatile Than Bitcoin and Ethereum
BTC and ETH have been exhibiting a lower level of volatility in comparison to oil, Kaiko Research reported.
In the past three months, the two crypto assets have recorded a volatility of between 35% and 37%, while the oil market had a price change index of 41%.
This pattern in Bitcoin and Ether is viewed as an anomaly from Kaiko’s analysts, yet it could be evidence that cryptocurrencies are becoming more of a stable asset class.
Meanwhile, the stock market in the US showed modest growth last mid-August, and this was connected to the waning correlation between BTC and the Nasdaq index, which started in the summer of 2023.
Bloomberg strategists forwarded that if the stock market carries on to climb, Bitcoin should manage to reclaim the losses and aim for $30,000.
Other analysts predict that Bitcoin could even soar to $150,000. Despite the recent dip, IntoTheBlock’s analysts mentioned that investor activity will remain stagnant until autumn, when the market will already be in a new phase.
