RATE Group | Cryptos stage rally as bitcoin volatility gauge touches 1-year low
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Cryptos stage rally as bitcoin volatility gauge touches 1-year low

05 Jun Cryptos stage rally as bitcoin volatility gauge touches 1-year low

Posted at 21:27h in Bitcoin News by

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Major digital currencies erased declines and were trading higher in early afternoon Tuesday action.

Coming off its most subdued week of the year, bitcoin hasn’t traded outside the $7,000 to $8,000 range since May 22, in what many proponents see as a positive sign for increased adoption of the prominent decentralized technology.

Charles Hayter, co-founder of CryptoCompare, said “there’s a lot of debate around if [bitcoin is] a store of value, or possibly a currency and the lower volatility does help those camps.”

The 30-day bitcoin volatility index, which tracks the standard deviation of returns for…

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