Bitcoin: Study Reveals Cryptocurrency Has Surprising Financial Stability

Bitcoin may have seen a drop in value of around seven percent over a 24-hour period on Thursday, but the cryptocurrency may be more financially stable than many suspect. A study that looks at the stability of the coin’s markets show very similar signs to more traditional markets — and the lead researcher says this means the foreign exchange markets could have some very stiff competition.

“When new emerging financial markets started to appear in Central and Eastern Europe after the collapse of socialism, the question of their stability naturally arose,” Stanislaw Drozdz, author of the study and a professor at the Institute of Nuclear Physics of the Polish Academy of Sciences, said in a statement published Wednesday. “A number of statistical criteria were identified at that time, making it easier to assess the maturity of the market. We were curious about the results we would get if we used them to look at the Bitcoin market, currently valued at hundreds of billions of…