Bitcoin remains extremely volatile, but its turnover is lower than other assets, which does not allow us to talk about its high “speculativeness”. This was stated by the co-founder of Fundstrat Tom Lee, an analytics firm called Financial News.

This is how the senior executive reacted to the thesis that many investors are in no hurry to add digital assets. Skeptics noted a lack of regulatory certainty and a high degree of market speculation, albeit with significant interest.

Despite the industry’s definition of the “Wild West”, the volatility of the MVIS CryptoCompare Digital Assets 100 Index, which tracks the top 100 cryptoassets, is no more than double that of any other index.

According to Lee’s calculations, the turnover of bitcoins is 2:1, the turnover of the US dollar is 96:1 and the turnover of a barrel of oil is 31:1.

For Fundstrat’s co-founder, bitcoin was like gold in the early days of currency trading. The precious metal also experienced strong price fluctuations in the 1970s until its market cap reached $10 trillion five or six years later.

“When is it today […] The penetration rate is very low, you can expect bitcoin to be extremely volatile. However, as 9 out of 10 households invest in their first cryptocurrency, the price volatility will decrease.” – explained the expert.

Recall that in February, Lee announced his prospects for a “huge” speculative capital influx into the cryptocurrency.

The firm FSInsight, which he founded earlier, predicted that the first cryptocurrency would reach $200,000 in the second half of 2022.