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> “Euro’s a dollar, Euro’s a dollar twenty, oh, Euro’s a dollar again” just sounds less dramatic than “Bitcoin’s $40K, Bitcoin’s $50K, omg, Bitcoin’s lost $10K
by tablespoon 6y ago
> “Euro’s a dollar, Euro’s a dollar twenty, oh, Euro’s a dollar again” just sounds less dramatic than “Bitcoin’s $40K, Bitcoin’s $50K, omg, Bitcoin’s lost $10K and is $40K again!”
Six months ago, Bitcoin was literally selling for 25% of its current price (~$11,500), and about half its rise has been in the last two months.
Twenty years ago, the Euro didn't look that volatile. It bottomed out at ~70% of its previous high, and it took two years to get there.
https://fxtop.com/en/historical-exchange-rates-graph-zoom.php?C1=EUR&C2=USD&A=1&DD1=01&MM1=01&YYYY1=1998&DD2=01&MM2=03&YYYY2=2003&LARGE=1&LANG=en&CJ=0&MM1Y=0&TR= https://fxtop.com/en/historical-exchange-rates-graph-zoom.ph...
- Terretta 6y agoToggle the “Candlestick chart” on your diagram. Though it could and did change percentage points a day, financial industry was still comfortable how to do business with ongoing volatility. Those same mechanisms are useful here, meaning volatility isn’t the thing that precludes what Citi is discussing.