 QUOTE OF THE DAY  |
| "An investment in knowledge pays the best interest." - Benjamin Franklin |
Happy Sunday! Take today to relax and reflect before the upcoming week. It's always good to clear your mind and move into Monday strong.
Cheers,
Blockchain Brew Team
| COIN | PRICE | 24H |
|
| BTC | $5,941.01 | -3.26% |
|
| ETH | $443.748 | -6.12% |
|
| XRP | $0.466928 | -4.34% |
|
| BCH | $698.209 | -7.67% |
|
| EOS | $7.38094 | -11.16% |
|
*Information as of 9:30 AM EST
New Report Finds Bitcoin Consistently Lower Volatility Then Other Cryptocurrencies
BITCOIN'S VOLATILITY
- According to research completed by the American Institute For Economic Research (AIER), Bitcoin's volatility over the past 5 years has been consistently lower than that of its peers
- This finding confirms what most have already suspected that since Bitcoin is the biggest cryptocurrency and is used as a base cryptocurrency for trading pairs, it will have low volatility in comparison to others
AIER researchers explained the method they used in determining Bitcoin's volatility:
“Economists and statisticians measure a variable’s volatility in many ways. We choose a relatively simple metric: the average daily percentage change in price. We average the absolute value of daily percentage returns for each cryptocurrency and year.”
VOLATILITY WILL DECREASE
- As assets mature, historically, most have seen a decrease in volatility
- For now, many analysts believe that Bitcoin has high volatility because most Bitcoin owners solely hold their Bitcoins and thus, a limited number of Bitcoins on exchanges are determining the price
- This low level of liquidity has caused massive drops in price due to one trader and makes the order books much easier to move
- However, once mass adoption takes place and Bitcoin becomes less of a speculative asset and begins to be used as a currency for all digital transactions, stability will ensue
Bitcoin Dies Its 315 Death, According to the Media
BITCOIN OBITUARIES
- Bitcoin blog 99Bitcoins has a section on its site called Bitcoin Obituaries, a list of every time a news outlet has declared Bitcoin to be dead
- According to the site, Bitcoin has died 315 times since they started tracking, with 69 of them occurring already in 2018
- On the site, you can find a timeline with all of the declarations of Bitcoin's death, it is an interesting walk through the history of cryptocurrencies
TAKEAWAY
- In bear markets like this, when your patience is running low and you are reaching capitulation, it is important to remind yourself about the resilience of Bitcoin
- As shown in the Bitcoin Obituaries blog, Bitcoin has gone through a tremendous amount of negativity and has always bounced back
- It is crucial to think fundamentally, although the price of Bitcoin has been in a downtrend, the fundamentals behind it have only been getting better
- Remember, markets can stay irrational for a very long time
Stanford Establishes Blockchain Research Center
CENTER FOR BLOCKCHAIN RESEARCH
- Stanford University recently announced the opening of it Center for Blockchain Research
- The research program will be a five year program led by computer science professors Dan Boneh and David Mazières
- The Center for Blockchain Research is supported by cryptocurrency organizations, like the Ethereum Foundation, Protocol Labs, OmiseGo, DFINITY Stiftung, the Interchain Foundation, and cryptocurrency hedge fund Polychain Capital
Dan Boneh, one of the Stanford professors in charge of the Center for Blockchain Research and an expert on cryptography said:
"Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology. This is a fascinating area of research with deep scientific questions. Once you get into the details you quickly realize that this area will generate many PhD theses across all of computer science and beyond."
Boneh's partner, professor David Mazières added:
“Blockchain massively lowers the barriers to creating tradeable, digital assets. It allows individuals who don’t know each other, or even trust one another, to make irreversible transactions in a whole variety of fields in a safe and secure way.”
- Bitcoin Falls to its Lowest Level Since November
- Get Ready For Wallstreet With All Their Locked Up Capital, Says Cardano (ADA) Co-Founder
- Top Five Biggest Crypto Mining Areas: Which Farms Are Pushing Forward the New Gold Rush?
Nano (NANO)
NANO iOS and Android wallets coming this week.
Today in Crypto is powered by coinmarketcal.com
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