Stay cool, stay onchain with .pengu 
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:
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Summer months
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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.
