Bitcoin was more stable than the KOSPI in July

Bitcoin has recently shown a more stable trading pattern than South Korea’s stock market, despite crypto’s longstanding reputation as a volatile asset class, News1 reported. According to Upbit Datalab and CoinMarketCap data cited by News1 on July 31, Bitcoin’s average daily price swing in July, based on absolute moves from July 1-29, stood at 1.25%. Over the same period, the Upbit Datalab altcoin index posted an average daily swing of 1.79%, while the KOSPI recorded 4.67%. That means the KOSPI was about 3.7 times more volatile than Bitcoin and about 2.6 times more volatile than the altcoin index.