The current value is at 1,7 for the 30-day volatility and 1,78 for the 60-day volatility. And the record low still is from 2023, when the 30-day value fell to 0,77, similar to the value of gold.
Bull markets and early bear markets were very volatile in the past due to FOMO and panic phases. The only bull market when similar values were achieved was the late crypto winter 2015/2016, when prices started to rise again. But as you can see in the graph, the volatility back then spiked regularly to 4 or even 5%. This is not the case in 2024 anymore, we only saw briefly 3% in the 30-day volatility in August, after the dip down into the 50k area.
This has a lot to do with the current price of Bitcoin. Back then in 2015/2016, Bitcoin was well around an affordable range for a whole Bitcoin and as such, investors weren’t too skeptical to think that they were risking more for an over priced asset. According to Bitbo charts, Bitcoin in 2015 started off with a price ranged $314.95k, had its highest price for at $463.87k and its lowest price at $165.07k while ending the year well above $430.08k. Now this was a price mark that investors could easily jump at as opposed to the value we have it in today which is within the $100k - 125k range.
Despite the progress in adoption, it still raises some skepticism in the minds of investors.