Calm before the storm? Bitcoin volatility is the lowest in four months

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.

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.

Image source: pixabay

By Xiu MU

This article comes from the push bitpush.news, reproduced need to indicate the source.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Market Analysis: External factor disturbances tend to weaken the impact on the cryptocurrency market

The trade war has revived. The three major stock indexes of the US stock market plummeted across the board. Gold has ...

Blockchain

Indian regulators have procrastination? The cryptocurrency ban has not been lifted, and the people took to the streets four times to protest

In recent times, blockchain supporters in India have held a series of rally, and the fourth event held in Bangalore o...

Market

Fed Holds Rates Steady, but Bitcoin Enthusiasts Glued to Policy Statement and Press Conference for Crypto Clues

Possible indications of the U.S. central bank holding off on increasing interest rates could result in a surge in bit...

Blockchain

The real story of the turmoil in the repo market, why do bitcoin have better anti-vulnerability?

Foreword: An anti-fragile system is a system that becomes stronger and more resistant with impact, rather than becomi...

Blockchain

Bitcoin has been "forked" more than 100 times in two years, now how about those forks

In the open source community, bifurcation means “copying and modifying” is one of the ways to expand th...

Blockchain

Crypto psychological warfare: How does market sentiment influence Bitcoin?

Source: Medium Translation: First Class (First.VIP) The Silk Road founder Ross Ulbricht published a series of article...