Bitcoin has been consolidating in recent weeks, and key indicators describing bitcoin volatility fell to their lowest point in four months today.
According to Forbes, according to research by asset management company Blockforce Capital, the 30-day volatility of digital currencies calculated using price data from different exchanges is 53.5%. This is the lowest point since May 11, when the cryptocurrency transaction price was close to $7,000.
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According to the push data, the price of the highest value cryptocurrency bitcoin has been in the range of 9000 US dollars to 11,000 US dollars for an integer week, which led to a significant decline in its overall volatility.
In fact, cryptocurrencies traded within this range for most of August, and so far in September. In addition to September 1, cryptocurrencies are traded between $10,000 and $11,000 at other times this month.
David Martin, chief investment officer at Blockforce Capital, a US asset management firm, said
“So far, the price of Bitcoin in September has continued the consolidation and range volatility that began in early August. As of today, the volatility of Bitcoin is now at a four-month low of 53.5%, which is May 11 The lowest level."
However, some people think that the recent relative weakness in the bitcoin market may be just calm before the storm. Some analysts emphasize the strong fundamentals of Bitcoin, emphasizing that the range volatility of Bitcoin does not truly reflect these potential influencing factors.
Joe DiPasquale, CEO of cryptocurrency fund at hedge fund BitBull Capital, thinks this is a "good sign." He said that Bitcoin is currently consolidating and wants to attract new investors' interest and raise prices. Bitcoin must break through.
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By Xiu MU
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