Type to search

Bitcoin bitxmi cryptocurrency cryptocurrency rate News

Bitcoin Price on the Verge of Falling Due to Low Volatility

Share
Bitcoin Price

Bitcoin price traded last week sideways between $ 9,400 and $ 9,100 on the Bitxmi cryptocurrency exchange  

Bitcoin

Neither bulls nor bears have been able to see any significant breakout, even though Bitcoin is technically within a daily uptrend.

The first cryptocurrency and the entire digital asset market are known for their extreme volatility. However, the stock market has been much more volatile in the past few months. Stocks like Tesla and a few others have outperformed bitcoins in terms of profit and volatility.

However, there is an indicator that shows that bitcoin is pretty close to a huge jump in volatility. According to Coinmetrics, the volatility of the daily yield (30 days) has dropped to a low not seen since March 2019. It is also the 5th lowest bitcoin volatility in 60 days since its inception.

The dominance of volume indicates that large price movements are very close

According to Josh Olshevich, a trader at Techemy Capital, this indicator can be used to understand exactly when Bitcoin will approach massive price movement during periods of low volatility. Analyzing blockchain metrics can be extremely useful in the short and long term. These metrics may be accurate indicators of the future, but they are difficult to capture.

Bitcoin Price Analysis Tools

Bitcoin Price

Not everyone can do blockchain analysis without tools. Fortunately, there are many sites out there that offer all kinds of metrics, some of them even free. While this data can be really useful, it is important to note that in most cases it usually does not have a direct impact on Bitcoin or any other asset.

Bitcoin trading volume is one of the most important metrics as it shows if the last steps were taken by a few large investors or a group of traders. A bull breakout without a lot of trading volume would not be impressive because it could have been due to a big whale buying a lot of bitcoins at the same time.

The liquidity problem exists even for Bitcoin. The daily trading volume in the cryptocurrency market is negligible compared to other markets. For example, today there are about $ 56 billion recorded, while the Forex market is about $ 6.6 trillion.

Follow our news site to know last news about Bitcoin

Join Bitxmi Exchange

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

Leave a Comment

Your email address will not be published. Required fields are marked *

bitcoin
Bitcoin (BTC) $ 10,811.86 0.79%
ethereum
Ethereum (ETH) $ 358.02 0.77%
tether
Tether (USDT) $ 0.999006 0.05%
ripple
XRP (XRP) $ 0.241859 0.25%
binancecoin
Binance Coin (BNB) $ 28.58 5.14%
bitcoin-cash
Bitcoin Cash (BCH) $ 228.23 0.59%
polkadot
Polkadot (DOT) $ 4.44 2.10%
chainlink
Chainlink (LINK) $ 10.04 2.67%
bitcoin-cash-sv
Bitcoin SV (BSV) $ 171.52 0.90%
cardano
Cardano (ADA) $ 0.100802 0.03%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.153933 0.48%
litecoin
Litecoin (LTC) $ 45.51 0.11%
usd-coin
USD Coin (USDC) $ 0.999514 0.13%
eos
EOS (EOS) $ 2.59 0.76%
tron
TRON (TRX) $ 0.026182 0.59%
monero
Monero (XMR) $ 100.29 5.48%
okb
OKB (OKB) $ 6.12 0.86%
tezos
Tezos (XTZ) $ 2.23 1.92%
stellar
Stellar (XLM) $ 0.073782 0.06%
neo
NEO (NEO) $ 19.65 2.64%
cosmos
Cosmos (ATOM) $ 5.22 7.02%
cdai
cDAI (CDAI) $ 0.020907 0.15%
leo-token
LEO Token (LEO) $ 1.26 0.58%
nem
NEM (XEM) $ 0.119918 0.49%
huobi-token
Huobi Token (HT) $ 4.62 0.24%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 10,818.42 0.66%
dai
Dai (DAI) $ 1.01 0.40%
vechain
VeChain (VET) $ 0.013054 1.68%
theta-token
Theta Network (THETA) $ 0.773838 7.51%
iota
IOTA (MIOTA) $ 0.272889 0.52%
yearn-finance
yearn.finance (YFI) $ 24,619.00 14.39%
ethlend
Aave (LEND) $ 0.540813 2.78%
dash
Dash (DASH) $ 68.20 0.63%
uniswap
Uniswap (UNI) $ 4.32 0.14%
ethereum-classic
Ethereum Classic (ETC) $ 5.40 0.68%
zcash
Zcash (ZEC) $ 60.66 5.80%
havven
Synthetix Network Token (SNX) $ 4.94 0.91%
omisego
OMG Network (OMG) $ 3.99 2.59%
uma
UMA (UMA) $ 9.46 4.76%
binance-usd
Binance USD (BUSD) $ 0.999830 0.03%
maker
Maker (MKR) $ 520.19 0.62%
compound-governance-token
Compound (COMP) $ 135.90 2.17%
ontology
Ontology (ONT) $ 0.634833 1.32%
true-usd
TrueUSD (TUSD) $ 1.00 0.01%
celsius-degree-token
Celsius Network (CEL) $ 0.967439 6.17%
basic-attention-token
Basic Attention Token (BAT) $ 0.235957 0.18%
ftx-token
FTX Token (FTT) $ 3.66 1.12%
digibyte
DigiByte (DGB) $ 0.024865 0.01%
dogecoin
Dogecoin (DOGE) $ 0.002657 0.34%
kusama
Kusama (KSM) $ 35.30 2.58%