Thanks for the comments! I think BTC volatility is, unfortunately, here to stay for awhile. Basically until it reaches its "final form" -- either money or goner. To illustrate, if it's the day before bitcoinization, then market's odds of bitcoinization happening might fluctuate between 98% and 99% (ie 1% change in price). But nowadays if the market is fluctuating between, say, 1% and 2% odds then price doubles and halves on actual (probability-adjusted) fundamentals.
The volatility goes away someday, but not until that probability approaches either 0% or 100%.
An oasis of sanity in a sea of bunglers. Thanks.
Wow. Best write up in the topic I’ve seen so far. Thank you for your service!
Thanks, Aaron, it means a lot to me!
Thanks for the comments! I think BTC volatility is, unfortunately, here to stay for awhile. Basically until it reaches its "final form" -- either money or goner. To illustrate, if it's the day before bitcoinization, then market's odds of bitcoinization happening might fluctuate between 98% and 99% (ie 1% change in price). But nowadays if the market is fluctuating between, say, 1% and 2% odds then price doubles and halves on actual (probability-adjusted) fundamentals.
The volatility goes away someday, but not until that probability approaches either 0% or 100%.