When you think about volatility in various asset classes, crypto is typically considered the most volatile, and based on how it has traded over the last seven years, the reputation is well deserved. Since the start of 2017, when bitcoin’s price first crossed above $1,000 through now, bitcoin’s average daily percentage move has been 2.7% (chart below). This year, though, the average daily percentage move has been significantly less at a subdued 1.57%, and just recently, its average daily move over the prior two months dropped below 1%.That's less volatile than the treasury market! There’s still three months left in the year, but barring some major volatility, bitcoin is on pace for its least volatile year in terms of day-to-day volatility on record. As the years have progressed, bitcoin has clearly become a more seasoned asset class.

Another illustration of bitcoin’s growing ‘maturity’ is how closely it has traded to its 200-day moving average recently. While the largest cryptocurrency experienced a sharp decline in mid-August, it has closely hugged its 200-day moving average (DMA) ever since.

In fact, for 59 days now, bitcoin has traded within 10% (above or below) of its 200-DMA. That's a record. After years of bouncing off the walls like a ten-year-old on a sugar high, bitcoin looks like it may have finally grown up!

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