{"id":485491,"date":"2022-03-09T07:27:45","date_gmt":"2022-03-09T07:27:45","guid":{"rendered":"https:\/\/wncen.com\/?p=485491"},"modified":"2024-06-11T14:18:08","modified_gmt":"2024-06-11T14:18:08","slug":"why-is-bitcoin-so-volatile-anyway-fidelity-digital-assets-explains","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/why-is-bitcoin-so-volatile-anyway-fidelity-digital-assets-explains\/","title":{"rendered":"Why Is Bitcoin So Volatile, Anyway? Fidelity Digital Assets Explains"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Let Fidelity take the wheel and drive you through the wonderful world of volatility. Bitcoin critics wield one of the asset&#8217;s main characteristics as an unsolvable failure, but, is it? According to Fidelity, \u201cbitcoin is fundamentally volatile.\u201d That doesn\u2019t deter it from fulfilling \u201cits ultimate investment objective of preserving wealth over long time periods.\u201d\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/fidelity-says-what-weve-been-thinking-countries-central-banks-will-buy-btc\/\">Fidelity Says What We\u2019ve Been Thinking: Countries &amp; Central Banks Will Buy BTC<\/a><\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400\">The company said all of that in Fidelity \u2018s latest edition of \u201cT<\/span><a href=\"https:\/\/www.fidelitydigitalassets.com\/articles\/understanding-bitcoin-volatility\" rel=\"nofollow\"><span style=\"font-weight: 400\">he Research Round-Up<\/span><\/a><span style=\"font-weight: 400\">.\u201d In their much longer analysis, they use oil and gold as examples to explain the whole volatility process. We\u2019re in the summarizing business, though. Here at NewsBTC, we will distill their article, state the main points, and briefly comment on them. <\/span><\/p>\n<h2><span style=\"font-weight: 400\">Fidelity Explains Bitcoin\u2019s Fixed Supply<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\">\n<blockquote><p><span style=\"font-weight: 400\">\u201cBitcoin is unique in that it is a good whose supply is completely inelastic to changes in price. In other words, supply does not (and cannot) change in response to price.\u201d<\/span><\/p><\/blockquote>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">There will only ever be 21 million bitcoin and that\u2019s that. With other goods, there\u2019s a cycle. \u201cGoing back to economic principles, we know that when demand increases for a good, in the short-term the price will rise. However, the higher price then incentivizes suppliers to produce more. More supply will then bring down the price.\u201d This doesn\u2019t happen in bitcoin.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\">\n<blockquote><p><span style=\"font-weight: 400\">\u201cWith bitcoin, supply cannot change regardless of what price does. Therefore, any change in demand, short-term as well as long-term, will have to be reflected by changes in price.&#8221;<\/span><\/p><\/blockquote>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">It\u2019s only logical. The laws of supply and demand can only affect the price, and so they do. \u201cThere is no change in supply to dampen the effect of price moves, even over the longer-term.\u201d Mix that with an ever-decreasing supply of new coins, due to the halvings, and you have a perfect recipe for what bitcoiners call \u201cnumber go up technology.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Fidelity summarizes the phenomenon with a quote from Parker Lewis:\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">&#8220;Bitcoin is valuable because it has a fixed supply and it is also volatile for the same reason.&#8221;<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Those two characteristics come in the same package.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-485494 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/BTCUSD_2022-03-09_04-12-15.png?resize=460%2C257\" alt=\"BTCUSD price chart for 03\/09\/2022 - TradingView\" width=\"460\" height=\"257\"><\/p>\n<pre style=\"text-align: center\">BTC price chart for 03\/09\/2022 on FX | Source: BTC\/USD on <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<h2><span style=\"font-weight: 400\">Bitcoin As A Store Of Value<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\">\n<blockquote><p><span style=\"font-weight: 400\">\u201cSomething that has low volatility is not necessarily a good store of value in the long run, while something that has high volatility does not mean that it can&#8217;t be a good store of value in the long run.\u201d<\/span><\/p><\/blockquote>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">It\u2019s easy to get scared by volatility. Investors, traders, and even true believers let their feeling get in the way and exit the market with every little bump in the road. However, there\u2019s no one that has holded bitcoin for more than four years and is in the red. Literally no one.\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-volatility-drops-to-15-month-low-what-this-could-mean\/\">Bitcoin Volatility Drops To 15 Month Low; What This Could Mean<\/a><\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400\">Let\u2019s get an obvious example from Fidelity, \u201cThe U.S. dollar is not volatile but has also not been a good store of value in terms of purchasing power, while bitcoin is considered very volatile, but has been a much better store of value over the past ten and even five years.\u201d<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\">\n<blockquote><p><span style=\"font-weight: 400\">\u201cVolatility is a byproduct of price discovery, and there is no other way for price discovery to happen in a free market.\u201d<\/span><\/p><\/blockquote>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Even though bitcoin is 13 years old, it\u2019s still going through a price discovery process. How much is bitcoin really worth? We won\u2019t know for years, even decades. \u201cThis process of individuals all coming to adopt bitcoin in different ways and timeframes necessarily must produce volatility,\u201d completes Fidelity.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Fidelity Thinks Bitcoin\u2019s Volatility Is Decreasing<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\">\n<blockquote><p><span style=\"font-weight: 400\">\u201cThe limited historical evidence we do have so far appears to be showing volatility declining over the long-term.\u201d<\/span><\/p><\/blockquote>\n<\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-485493 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/BitcoinVolatility.jpg?resize=460%2C296\" alt=\"Bitcoin Volatility across time\" width=\"460\" height=\"296\"><\/p>\n<pre style=\"text-align: center\">Bitcoin Volatility decreasing | Source: <a href=\"https:\/\/www.fidelitydigitalassets.com\/articles\/understanding-bitcoin-volatility\" rel=\"nofollow\">Fidelity<\/a><\/pre>\n<p><span style=\"font-weight: 400\">The graph clearly shows that volatility is slowly fading. This is only logical. Fidelity explains, \u201cas gold went through a major price discovery process in the 70&#8217;s, which then resulted in amassing a larger base of investors, volatility naturally declined.\u201d We\u2019re still early, though. This is not financial advice, but, for now, you should learn how to ride volatility and use it in your favor.<\/span><\/p>\n<pre style=\"text-align: center\">Featured Image by <a href=\"https:\/\/unsplash.com\/@cdetempe?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" rel=\"nofollow\">Chris de Tempe<\/a> on <a href=\"https:\/\/unsplash.com\/s\/photos\/roller-coaster?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" rel=\"nofollow\">Unsplash<\/a> | Charts by <a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\">TradingView<\/a> and <a href=\"https:\/\/www.fidelitydigitalassets.com\/articles\/understanding-bitcoin-volatility\" rel=\"nofollow\">Fidelity<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Let Fidelity take the wheel and drive you through the wonderful world of volatility. Bitcoin critics wield one of the asset&#8217;s main characteristics as an unsolvable failure, but, is it? According to Fidelity, \u201cbitcoin is fundamentally volatile.\u201d That doesn\u2019t deter it from fulfilling \u201cits ultimate investment objective of preserving wealth over long time periods.\u201d\u00a0 Related Reading | Fidelity Says What We\u2019ve Been Thinking: Countries &amp; Central Banks Will Buy BTC The company said all of that in Fidelity \u2018s latest edition of \u201cThe Research Round-Up.\u201d In their much longer analysis, they use oil and gold as examples to explain the whole volatility process. We\u2019re in the summarizing business, though. Here at NewsBTC, we will distill their article, state the main points, and briefly comment on them. Fidelity Explains Bitcoin\u2019s Fixed Supply \u201cBitcoin is unique in that it is a good whose supply is completely inelastic to changes in price. In other words, supply does not (and cannot) change in response to price.\u201d There will only ever be 21 million bitcoin and that\u2019s that. With other goods, there\u2019s a cycle. \u201cGoing back to economic principles, we know that when demand increases for a good, in the short-term the price will rise. However, the higher price then incentivizes suppliers to produce more. More supply will then bring down the price.\u201d This doesn\u2019t happen in bitcoin.\u00a0 \u201cWith bitcoin, supply cannot change regardless of what price does. Therefore, any change in demand, short-term as well as long-term, will have to be reflected by changes in price.&#8221; It\u2019s only logical. The laws of supply and demand can only affect the price, and so they do. \u201cThere is no change in supply to dampen the effect of price moves, even over the longer-term.\u201d Mix that with an ever-decreasing supply of new coins, due to the halvings, and you have a perfect recipe for what bitcoiners call \u201cnumber go up technology.\u201d Fidelity summarizes the phenomenon with a quote from Parker Lewis:\u00a0 &#8220;Bitcoin is valuable because it has a fixed supply and it is also volatile for the same reason.&#8221; Those two characteristics come in the same package.\u00a0 BTC price chart for 03\/09\/2022 on FX | Source: BTC\/USD on TradingView.com Bitcoin As A Store Of Value \u201cSomething that has low volatility is not necessarily a good store of value in the long run, while something that has high volatility does not mean that it can&#8217;t be a good store of value in the long run.\u201d It\u2019s easy to get scared by volatility. Investors, traders, and even true believers let their feeling get in the way and exit the market with every little bump in the road. However, there\u2019s no one that has holded bitcoin for more than four years and is in the red. Literally no one.\u00a0 Related Reading | Bitcoin Volatility Drops To 15 Month Low; What This Could Mean Let\u2019s get an obvious example from Fidelity, \u201cThe U.S. dollar is not volatile but has also not been a good store of value in terms of purchasing power, while bitcoin is considered very volatile, but has been a much better store of value over the past ten and even five years.\u201d \u201cVolatility is a byproduct of price discovery, and there is no other way for price discovery to happen in a free market.\u201d Even though bitcoin is 13 years old, it\u2019s still going through a price discovery process. How much is bitcoin really worth? We won\u2019t know for years, even decades. \u201cThis process of individuals all coming to adopt bitcoin in different ways and timeframes necessarily must produce volatility,\u201d completes Fidelity.\u00a0 Fidelity Thinks Bitcoin\u2019s Volatility Is Decreasing \u201cThe limited historical evidence we do have so far appears to be showing volatility declining over the long-term.\u201d Bitcoin Volatility decreasing | Source: Fidelity The graph clearly shows that volatility is slowly fading. This is only logical. Fidelity explains, \u201cas gold went through a major price discovery process in the 70&#8217;s, which then resulted in amassing a larger base of investors, volatility naturally declined.\u201d We\u2019re still early, though. This is not financial advice, but, for now, you should learn how to ride volatility and use it in your favor. Featured Image by Chris de Tempe on Unsplash | Charts by TradingView and Fidelity<\/p>\n","protected":false},"author":539,"featured_media":485492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[85629,85633,85626,790,2029,85628,85631,85632,85634,85630,85627,4406,85635],"class_list":["post-485491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-21-million-bitcoin","tag-bitcoin-as-a-store-of-value","tag-bitcoin-is-fundamentally-volatile","tag-bitcoin-volatility","tag-fidelity","tag-fixed-supply","tag-number-go-up-technology","tag-parker-lewis","tag-price-discovery","tag-the-laws-of-supply-and-demand","tag-the-research-round-up","tag-volatility","tag-volatility-declining"],"acf":[],"yoast_head":"\n<title>Why Is Bitcoin So Volatile, Anyway? 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