In this very special bitcoin-heavy edition of the Daily Byte: a stable bitcoin, Yellen's not buying, a bitcoin exchange gone wrong, and the Feds are in the bitcoin business. Plus, private transactions on the main Ethereum blockchain.
It's the 10th anniversary of the Bitcoin white paper. Here's some of what's happening in Bitcoin news a decade later:
Bitcoin Is Now the Least Volatile Since 2016
Bloomberg is reporting[1] that bitcoin's price is currently the most stable it has been since late 2016. The 30-day volatility of the coin has hit levels last seen in December 2016, with volatility projected to get lower still.
Per CoinMarketCap[2], the 24-hour trading volume has been largely stable for the last 15 days, at approximately $3.4 billion, with bitcoin showing stable pricing before suffering a downturn Monday.
There are contrasting theories to what this means. Some feel that bitcoin's current stability means that the coin has finally hit "the floor" – its theoretical absolute minimum price – or is close to finding it. Others feel that the flat pricing may be a staging period to a possible price rally, as those investors trigger-shy about jumping into a turbulent bitcoin market might find appeasement in the current calm.
Regardless, as the reserve currency of the crypto market, bitcoin pricing will affect the trading performance of most other coins, including Ether. So. Here's to the best.
Yellen Not Buying Bitcoin
Not everyone sees stability in the market. Janet Yellen, US Federal Reserve chair from 2014 to 2018, spoke Monday at the Canada Fintech Forum, and said she still thinks price volatility is an issue: "[F]or something to be a useful currency, it needs to be a stable source of value, and bitcoin is anything but."
Yellen had more to say about Satoshi's
