- Bitcoin (BTC) Is Calming Before the Next Storm
- How fast can Bitcoin (BTC) recover
- Analysts release bullish Bitcoin price prediction due to the forthcoming BTC halving
Bitcoin News Today – The digital currency market is currently in the red zone. The majority of coins in the market has lost a considerable fraction of their values over the past few days. Even the world’s largest digital currency by market cap – Bitcoin (BTC) – is trading sideways despite strong fundamentals. However, many analysts believe that things are about to change for Bitcoin (BTC).
According to data from Blockforce Capital, the volatility level of Bitcoin (BTC) has dropped to its lowest level since May. It almost seems like the wild price swings of Bitcoin in June and August did not occur. Some analysts believe that there is a major upward rally coming for Bitcoin after its sideways trading.
Bitcoin (BTC) Is Calming Before the Next Storm
According to a recent report, Jim Wyckoff – a market analyst – said that Bitcoin would continue to trade sideways in the next couple of days. This means that Bitcoin would become even more stable. Nevertheless, many crypto analysts believe that this is just “calm before the storm.”
Joe DiPasquale – the CEO of BitBull Capital – said that the unprecedented stability of Bitcoin (BTC) would bode for the future price of the coin. According to John Bollinger, there is an impending BTC price rally that could bring more volatility to the market. In addition, Peter Brandt pointed out that there is a formation of a descending triangle.
How Fast Can Things Change?
Bitcoin (BTC) started this year around the $3,300 range. The digital currency surged gradually until it got to the $7k range in May. During the massive bull run in late June and early July, BTC to USD price surged enormously and tested a new year-to-date high. Bitcoin (BTC) to USD price surged towards the $14 level in less than a week. However, the coin started plunging downwards as the bulls weakened out.
Based on its previous track record, it might not be long until Bitcoin (BTC) begins to show its volatile side again. Bitcoin (BTC) just plunged towards the $10k range. However, many digital asset investors believe the world’s most dominant coin will recover significantly in the short-term. Some analysts have also given a long-term Bitcoin price prediction of $1 million on the basis of BTC being digital gold and the forthcoming halving of Bitcoin.
Bitcoin (BTC) is now a hedge for many investors against political and market turmoil. The halving of reward on the network is also fast approaching; scheduled for May next year. Many believe the halving of Bitcoin reward would have a significant impact on the price of BTC.