- Bitcoin (BTC) Volatility Hits New Lows
- Bitcoin Is Consolidating
- Bitcoin (BTC) will recover significantly in the short-term – top crypto analysts
Bitcoin News Today – Bitcoin (BTC) is known to be one of the most volatile coins in the market. However, that seems to have changed over the past few months. Bitcoin (BTC) has been trading in a tight range over the past few months and the volatility level of the digital currency has reached its lowest point. The volatility of Bitcoin (BTC) over the past thirty days hits a reading of 47 percent today. According to research from Blockforce Capital, that is the least level seen since May 10.
Bitcoin (BTC) Volatility Hits New Lows
The 30-day volatility level of Bitcoin dropped to 47 percent today. In addition, the volatility level of the digital currency over the past 60 days has also dropped to 54 percent, which is also the lowest since May 10. Over the past 30 days, Bitcoin (BTC) has been trading within a tight range. The price of Bitcoin (BTC) has been fluctuating mostly between the $10k and $11k level, according to data CoinMarketCap. According to many crypto analysts that have weighed in on this, Bitcoin (BTC) is experiencing a lackluster sentiment.
A digital currency entrepreneur – Erik Finman – said that the hype around Bitcoin (BTC) has died off. Finman got his millionaire status at a young age by investing in the most prominent digital currency in the world. He said that Bitcoin (BTC) is in a slump.
Bitcoin (BTC) Is Consolidating
The managing director of Digital Capital Management – Tim Enneking – said, “Volatility is some of the lowest we have seen in a long time.” He added that Bitcoin (BTC) is consolidating. He said:
“Interestingly, Bitcoin (BTC) has been consolidating recently in the upper half of the narrowing pennant it has been stuck in since it tested its year-to-date high in June. This is the first time that is happening in over three months.”
The CEO of BitBull Capital (digital currency hedge fund manager) – Joe DiPasquale – also gave his opinion regarding the issue. He said:
“Generally, Bitcoin (BTC) is still consolidating; the digital currency is now experiencing tighter spreads, such as the range over the weekend between $10,175 and $10,435.”
He added that despite the relatively tepid market movement, Bitcoin (BTC) could soon break out of its currency range bound. Investors are still in a wait-and-see. However, this would soon change according to DiPasquale.
There are many factors that would contribute to the short-term recovery of Bitcoin (BTC). Bakkt just launched its physically-custody Bitcoin futures on Friday. DiPasquale noted that many digital asset investors are watching their adoption by institutions closely. The sentiments around the forthcoming Bitcoin halving could also push BTC to USD price significantly higher.