The Last Time Volatility Was This Low, the Bitcoin Price Crashed 60%

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Published Jun 21, 2020

Bitcoin could soon see a massive move as volatility continues to tighten, according to a crucial indicator. Investors, however, remain largely divided over what comes next for the cryptocurrency. The width of the Bollinger Bands on Bitcoin’s daily chart is nearing levels not seen since February earlier this year, prior to the drop from $10,000 to $3,700 in the span of four weeks. The width of the Bollinger Bands, according to the analyst that shared the chart below, is a sign that “something big is happening very soon.”The expectations of an imminent bout of volatility have been reflected by other analysts. One trader, the head of technical analysis at crypto research firm Blockfyre, recently wrote:Investors are largely divided over what comes next, but there have been whispers of a decline in the works. The on-chain state of BTC is currently bearish, with the economic throughput of the network decreasing as prices have stalled. Furthermore, there are a few trend indicators suggesting a retracement is more likely than another leg higher after BTC’s 150% rally from March’s lows. Although the low volatility isn’t likely to last forever, some have seen it as a positive sign for Bitcoin. Mike McGlone, a senior commodity analyst at Bloomberg Intelligence, touched on this narrative in a recent report on his outlook on cryptocurrencies. In the June report, entitled “Bitcoin $10,000 Gaining Support,” McGlone wrote that the continual adoption of the cryptocurrency by institutional players via futures and other markets is “suppressing” volatility, “clearly keeping it tilted toward more appreciation.”The decreasing levels of volatility are also cementing the idea that Bitcoin is becoming a mainstream asset class, the analyst wrote:

All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2020/06/20/the-last-time-volatility-was-this-low-the-bitcoin-price-crashed-60/

#volatility #erikfinman #bitcoincasinousa #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange

The Last Time Volatility Was This Low, the Bitcoin Price Crashed 60%: https://www.youtube.com/watch?v=Pmbs7ruPP0s

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The Last Time Volatility Was This Low, the Bitcoin Price Crashed 60%

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