Categories: Crypto News
| Published On Apr 15, 2021 9:15 am CEST  |  Updated on Aug 3, 2021 5:42 pm CEST | By Peter Siu

“Bitcoin’s peak volatility is right on track to drop below fiat volatility”

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There will come a time that Bitcoin will be less volatile than fiat money as money is being redefined. And when this time comes, you better be holding some.

This is according to Willy Woo, a prominent online chain-analyst with roughly 400,000 followers on Twitter.

Woo’s comments are a direct response to remarks made by Johns Hopkins economist Steve Hanke. In a double-barrel attack on April 10, the economist makes it clear that that Bitcoin is too volatile to be used as currency.

Not much later he stressed his position on the cryptocurrency and calling it a speculative asset:

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This of course does not sit well with long-time analyst Willy Woo, who in a series of Tweets responded to Hanke’s claims.

Woo zooms in on Bitcoin and highlights its recent widespread adoption to the volatility of the EUR/USD pair. According to him, Bitcoin’s volatility is because of its denomination in US dollar. As a result, he is convinced that this is about to change.

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 The analyst, who many regard as some kind of “oracle” when it comes to his detailed analyses, also points to the attraction of the said volatility.

Bitcoin is currently trading at $62,957.68 after jumping to an all-time high of $64,863.10 according to CoinMarketcap just hours ago. It seems to be unaffected yet by Coinbase’s (volatile) first day of its direct listing on Wednesday. Could it be that the leading cryptocurrency is tanking in order to break out today?

The strength that Bitcoin has been showing in the past weeks, did not withhold Steve Hanke to once again make his point though.

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Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.

Tags: Bitcoin