I want to start by addressing the recent pullback in Bitcoin and Ether prices, as well as shares of crypto miners, since Bitcoin hit a new record high last week. It’s important for investors to remember that the crypto ecosystem remains, and is expected to remain, highly volatile.
Whereas gold bullion and the S&P 500 have a standard deviation of ±1% over a single trading day, Bitcoin has one closer to ±4%. Ether’s is even higher at ±6%, and HIVE Blockchain Technologies can easily go up or down 8% during any given trading session.
Needless to say, the crypto ecosystem is high-risk and potentially high-reward, and it’s essential that investors who are thinking of participating manage their expectations.
There’s much more to cover from last week that was! Below are five Bitcoin developments you need to know.