Bitcoin has been one of the hardest hit assets by the churning of the US markets with the increase in the Coronavirus outbreak. On March 12, BTC, the most decreasing asset after crude oil, lost nearly 60% of its price in just 1 day.
This sharp decline and subsequent leap of Bitcoin led to a record breaking volatility. According to data shared by Skew Markets, Bitcoin’s 10-day volatility has even exceeded 300%. Despite this, the stable image seen for the last few days also brought a serious decrease in volatility and began to show signs of price improvement.
Again, according to Skew’s data, volatility has dropped to below 200% over 300%. It is known that this decrease, which occurred in just 24 hours, stemmed from the stability of BTC, which has been between $ 5,800 and $ 6,300 for two days.
Continuing this still image of Bitcoin may increase institutional investors’ trust and investments in BTC. Bitcoin previously had a heavy selling pressure because it was too volatile and risky, and this seems to be improving slowly.