“Volatility has been a major characteristic of the digital currency, which turned 10-years-old last week, throwing up major hurdles to its emergence as a mainstream asset class,” according to Reuters.
Recently, bitcoin has actually been less stable than the S&P 500, as the chart below indicates.
“In contrast to bitcoin, volatility in the S&P 500, has since late September climbed to near seven-month highs. Investors in U.S. stocks are worried over rate hikes by the Federal Reserve and global trade and protectionism,” according to Reuters.
For more information on the cryptocurrency market, visit the Bitcoin category.