Bitcoin volatility [BTC] more than tripled in the last 30 days

Bitcoin volatility over the past 30 days has more than tripled according to the Bitcoin Volatility Index. As of yesterday December 9th, the index recorded the volatility at 5.53% which is a marked rise from the November 9th figure of 1.57% representing a 3.5% rise in volatility.

However, since November 9th, the volatility fell further to yearly lows of 0.73% recorded on November 14th the day Bitcoin price fell by 12% in a matter of hours losing close to $800.

The Bitcoin price volatility has been on a steady decline for the better part of this year after rising to all-time highs at the start of 2018.

The highest figure recorded this year was on January 4th, when the index read 8.20% volatility. This volatility corresponded with a Bitcoin spot price of $15,155. Bitcoin price has also been on a protracted decline since its December 2017 highs, a direct correlation to its volatility.

However, over the past month, the price of Bitcoin has lost close to 45% of its value and the cryptocurrency has seen an 8% rise in volatility from its yearly low figures of 0.73%. The last time the volatility of the leading cryptocurrency was at the 5.53% level was in March when the volatility stood at 5.56% and the Bitcoin spot price was $9,500.

During Bitcoin’s 17-month volatility lows of 0.73% (experienced in the first half of November 2018), industry insiders had a (short-lived) joke that the leading cryptocurrency (according to market cap) transpired to become “the ultimate stablecoin.” As of press time, Bitcoin is trading at $3,480 having lost about 2.26% in the last 24 hours.

The Bitcoin Volatility Index is a service that tracks the volatility of the Bitcoin price as paired with the US Dollar.