TL;DR

• Bitcoin and Ethereum are currently LESS volatile than oil.

• While, in a vacuum, this data is very exciting in that it paints Bitcoin and Ethereum as stable and less risky - it doesn't prove too much in the long term.

Full Story

"cRyPt0 iS t0o VoLatILe" - Chevy's uncle at every family gathering.

Oh yeah, Steve? Well how's THIS:

Yep, that's right: Bitcoin and Ethereum are currently LESS volatile than oil.

☝️ The closer a line gets to zero on the 90D axis, the less volatile it is.

That's neat, but what does this highlight?

Outside of a very obvious rift between Chevy and his uncle? Not a whole lot just yet.

While, in a vacuum, this data is very exciting in that it paints Bitcoin and Ethereum as stable and less risky - it doesn't prove too much in the long term.

Crypto trading tends to flatten out in:

1. Summer months

2. ​Bear markets​

Two things we're going through at the moment.

All while oil is navigating one hell of a bumpy road:

The invasion of Ukraine has seen economic sanctions placed on Russia (which produces 13% of the worlds oil), ratcheting its volatility up starting in February of last year.

While China's much delayed re-opening post-covid (from Jan-Apr of this year) didn't spike oil demand as much as was expected.

(And uncertainty typically leads to volatility).

Put simply:

Oil has had to work over the summer, while crypto has been on holiday.

Is this pattern likely to repeat? Probably not.

But it'll shut Steve up over the holidays - and that's enough for us.

UPDATE: Get. This.

About an hour after writing this, Bitcoin and Ethereum's prices fell off a cliff.

Serves us right for taking such an indulgent victory lap.

You win this round, Steven.