Has Bitcoin (BTC) Become the New ‘Stablecoin’?10.79

As the crypto-verse welcomes multiple stable coins pegged to the USD and the Australian Dollar, the King of Crypto – Bitcoin (BTC) – has particularly been one of the most stable cryptocurrencies in the markets for close to a month now. Looking at its market performance since late September, we find that BTC has only dropped once to levels below $6,300, and for a time period of less than a week. All other times, the digital asset has been oscillating at levels above $6,400. Below is a chart from coinmarketcap.com to give a better visual cue of the situation.

In a tweet early this morning, Anthony Pompaliano – founder and partner at Morgan Creek Digital – noted that BTC had been less volatile than NASDAQ, DOW and S&P 500 over the past month. His tweet was later retweeted by the CEO of Binance who asked the opinion of the crypto community on the validity of this statement. The two tweets can be found below.

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