Bitcoin's Volatility: Can It Still Diversify Your Portfolio?

The Bitcoin price has been known to be volatile, and its recent drop of 48.5% since reaching an all-time high of $126,198 on October 7th is a testament to this.

Despite the fluctuations, many investors believe that Bitcoin can still help diversify their investment portfolios.

A January survey by the Urban Institute found that 45% of US crypto owners use cryptocurrency primarily for this purpose.

Crypto researcher and strategist Jim Ferraioli stated that 'cryptocurrency tends to be a diversifier, so over the long-term it can be a good complement to more traditional investments.'