Cryptocurrencies
Bitcoin's Wild Ride Resumes as Volatility Returns With Vengeance
- Average daily price moves have become more pronounced in May
- Technical signals for crypto index show large trading range
Stacks of bitcoins sit inside a communications room at an office in this arranged photograph.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Bitcoin volatility is rearing its ugly head once again, disrupting the relatively calm rally crypto enthusiasts have basked in for the past month.
Average daily up-and-down moves in Bitcoin have gotten more pronounced, mimicking trading volatility last seen at the end of 2018 when crypto prices suffered through an extended downward draft. The daily price change for the month of May averages 4.7%, compared with 3.5% in April and 1.1% in March, according to data compiled by Bloomberg. The last time prices swung so wildly was in December, when the changes averaged 4.2%.