Research: Bitcoin is less Volatile that other Major Crypto
The American Institute for Economic Research (AIER) examined the Bitcoin price dynamics since 2013 and found that Bitcoin is less volatile on the daily timeframe than Ethereum, Ripple, Bitcoin Cash and Litecoin. AIER used the data from Coinmarketcap to determine the daily change of weighted average price in percentage.
Thus, during the last five years daily price change for Bitcoin was lower than for other cryptos. The researchers also used the coefficient of variation to re-check the obtained data. In 2013 daily weighted price change for Ripple exceeded Bitcoin by 5%, while in 2016 the difference was less than 1%.
It is worth to notice that in 2018 the corresponding indicators for Bitcoin, Litecoin and Ripple volatility increased, while for Ethereum decreased.
Concurrently the researchers calculated the number of days in a year for each crypto, when its price increased or decreased by more than 10%. Bitcoin Cash appeared to be the most volatile, and Bitcoin demonstrated the lowest values.
Previously the Chainalysis startup concluded that the group of 1600 wallets holds one third of Bitcoins on the market. In April 2018 Chainalysis determined that only 1600 wallets hold more than 1000 BTC, while only 100 wallets hold 10000 – 100000 BTC. At the same time anonymous wallets own almost 5 million coins making one third of the Bitcoin market. There are also 2.3 – 3.7 million BTC considered to be irreversibly lost.