Is Bitcoin becoming a value stock? With lower volatility compared to Amazon and Meta, is it the calm before the storm?

Bitcoin, known for its notorious price volatility, seems to be defying expectations recently by not being as impacted by market news. According to data from The Block Research, Bitcoin's 30-day annualized volatility is currently around 32%, while its historical average volatility is 71%. Some are calling this summer a potentially calm one, unlike any other since 2020.

Where is the Million-Dollar Bitcoin?

Amid the series of bank failures in the United States in March, attention was drawn to the vicious inflation and the perceived store of value in Bitcoin. Balaji Srinivasan, former CTO of Coinbase, once boldly predicted that Bitcoin would reach a million dollars within 90 days. However, as the traditional financial markets gradually stabilized and the U.S. debt ceiling was extended, the price of Bitcoin seems to have been range-bound between $26,000 and $28,000.

Will the fireworks and the Bitcoin bull market kick off this fall as Arthur Hayes, the founder of BitMEX, suggested? Or is it just the calm before the storm? Let's wait and see!