The Bitcoin price volatility has been one of the main topics in the Bitcoin news section of our cryptocurrency news website mainly because of its record-breaking lows. In the latest news, the Bitcoin price volatility dropped again, this time reaching a new 15-month low.
The weekly volatility of Bitcoin, which is calculated by the difference between the high and the low, fell to $317 last week which was the lowest reading since the first week of July 2017, according to data from Bitfinex.
What’s more important is the fact that the leading cryptocurrency witnessed a trading range of $398 and $741 in the previous two weeks, indicating that Bitcoin (BTC) is being squeezed in a price range and a market where a decisive move is overdue.
There are also other measures of Bitcoin’s price volatility which are echoing similar sentiments. One of them is the Bollinger bandwidth, a technical analysis tool used to measure standard deviations of a price’s moving average. This measure has also fallen to the lowest level since December 2016.
Currently, Bitcoin is trading at $6642 with a small increase (0.82%) over the course of the past 24 hours. After defending $6,100 and creating a bullish outside reversal in the third week of September, Bitcoin is now stable – but its follow-through is far from encouraging at this point.
Right now, only a convincing upside move above the trendline would confirm a bullish breakout and cover these record lows.
New Jump For BTC: $8,500 Is “Again On The Table” According To Analyst
“On-chain momentum is crossing into bullish [territory]… The bottom is most likely in, any [move] lower will be just a wick in the macro view,” Woo said.There is also Glassnode, which is a crypto centric on-chain intelligence firm which recently noted that their metrics suggest that Bitcoin is bottoming and is slated to revert higher in a "strong" fashion.It is the Market Value to Realized Value (MVRV) which is implying the above mentioned, as well as showing that the crypto asset investors are believing in the topic. A reading of this would mark a bottom for the cryptocurrency market soon, too.At press time, Bitcoin is trading at $7,563 while the total market cap is $204 billion and the trading volume sits at $49 billion.
Bloomberg Analysts Expect Bitcoin’s Price To Spike Past $10,000
“Bitcoin is winning the adoption race among crypto assets and is becoming increasingly scarce, which favors price appreciation. Plenty can go wrong with a nascent asset, but unless the basic premises reverse, there’s a higher probability to sustain price appreciation vs. Depreciation.He also tried to support the main idea that the halving event will act as a negative supply shock for the marketplace on the simple supply and demand economics.
Bitcoin Faced The Largest Price Drop Of 2019 Despite Slight Increase
Boring Bitcoin: BTC Still At $7,500 With No Sign Of Upswing
“Earlier this year, bitcoin went from $4,000 to $14,000 in less than three months. But one pullback, and everyone forgets.”Despite the negative price action, the Bitcoin news updates today show that the cryptocurrency is still holding on well. However, it did not manage to breach the $10,000 level which was expected for this month.Currently, the boring Bitcoin is said to break out in the near future and probably test the $10,000 region this year. If that happens, analysts would be lucky and can see a bullish potential in the most dominant cryptocurrency once again.Today, we can see reds all over the market but with a maximum of 1% for most coins and a negative drop of 1.64% for Binance Coin (BNB). On the other hand, a major gainer on the day is Cardano (ADA) with a 5.20% rise. The total cryptocurrency market cap managed to go above $200 billion and is at $204 billion at press time.
ETH Client Parity Forgets To Include EIP In Urgent Upgrade
Weiss Ratings Slides EOS Down The Ranks Due To Centralization
Korean Government Will Impose Crypto Capital Gains Tax In 2020
Aggregate Crypto Market Cap Is $205BLN, 0.25% Of Global Stock Market
IEO Safety: Are They Better Than Initial Coin Offerings?
Billions Of Bitcoin Moved In Minutes: What Happened?
Deutsche Bank Thinks Crypto Will Replace Fiat Currencies By 2030
Enjin Coin SurgeD By 60% After Microsoft Partnership
Brave Surpassed 10 Million Active Users Per Month: Report
Ethereum Gets New Boost From Accounting Firm Ernst & Young
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
- Litecoin News7 days ago
Grin Developer Suggests A Solution For MimbleWimble Privacy Issue
- Ethereum News6 days ago
Ethereum Breached Key Support Level, Further Losses Still Possible
- Ethereum News7 days ago
Vitalik Buterin Joins Petition To Free Arrested Blockchain Developer
- Litecoin News5 days ago
Litecoin Wash Trading: 93% Of All LTC Traded In One Day
- Ethereum News6 days ago
Stolen ETH From Upbit Is Moving To Unknown Wallets
- Ethereum News5 days ago
ETH Devs Decide To Delay Difficulty Bomb By Increasing Inflation
- Blockchain News6 days ago
SoftBank Launched New SBC Wallet Card Based On Blockchain
- Blockchain News5 days ago
Alibaba And Credits Leading The Chinese Blockchain Market