Bitcoin volatility is now at a two-year low due to the inaction of most traders.

On Friday night, the BTC rate sank to $16,607, the cryptocurrency has been trading in a narrow range since mid-December.

Despite the significant drop in the cryptocurrency market, SkyBridge Capital CEO Anthony Scaramucci noted that bitcoin has performed better than the shares of many technology companies.

What happened? The Stacks blockchain project team has published a technical document showing how a new digital asset called Stacks bitcoin (sBTC) can be used to make bitcoin fully programmable. Unlike the Ethereum or Solana networks, the simpler Bitcoin scripting language limits the capabilities of developers. Stacks wants to overcome these limitations by introducing a new 1:1 BTC-linked digital asset that can be used to create smart contracts on the platform, and also easily converted back to BTC.

Nobel laureate in economics Paul Krugman compared the bitcoin cryptocurrency with shares of the electric car manufacturer Tesla.

Bitcoin is nearing completion in 2022 in unstable macroeconomic conditions. In the US, inflation remains at high values, which forces the Fed to act more aggressively. In many ways, this contributed to the drawdown of the flagship crypto asset this year by 70% relative to ATH, fixed at $69,000.

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