Bitcoin caught the lowest level of volatility of the last 17 months at the beginning of October, and for the first time since mid -2017, it exhibited a stable price graph.
Bitcoin’s price in 2018 and market capacity
Yellow: Bitcoin Price, Red: Bitcoin Market Capital, Source: Cointlegraph.The decrease in the volatility of the number one crypto currency took place during the period when it experienced volume decrease. Bitcoin’s transaction volume has reached a level of $ 4.2 billion again immediately after seeing a decrease of approximately 23 percent from $ 4.2 billion to $ 3.2 billion on October 7, but is lower than the previous weeks. Due to the uncertainty in the short -term price trend of Bitcoin, the overall decrease in trading activities in the crypto market is thought to be the lead to the decline in the volatility rate…
According to the commodity strategist Mike McGlone, as the crypto market matures, Bitcoin’s volatility rate will continue to decrease rapidly:
“This is a mature market and therefore should continue to decrease volatility. When you have a new market, the market will be volatile until it establishes itself. ”
Since August 9, the price of Bitcoin generally went between $ 6,400 and $ 6800. Undoubtedly, the BTC’s 7000 band could not show a harsh movement external in mid -September, when it is a single time, is undoubtedly the low volume in the crypto market.
History of Volatility: Impact on the Market
The decline in the volume and volatility of Bitcoin may adversely affect the short -term price trend of this digital currency. However, historically, BTC was inclined to experience a decrease in volume and volatility before the upward rally began.
As shown in the 2012 Milatlı Bitcoin volatility table provided by the crypto money data platform Willy Woo Willy Woo, Bitcoin showed one of the lowest volatility rates in October 2013.
When we look at the graph and examine the price graph, the price of BTC has increased more than 30 times in a two -month period after showing a few months of stability and increased from $ 30 to $ 1000. Obviously, the stability of the BTC has enabled investors in the market to create an accumulation in the low price range and enabled more investors to enter and buy BTC…
Garry Tan, a venture capital investor, who invested in many new initiatives with a total of more than 20 billion dollars, including Coinbase, said that the low price range is leading to investors to enter a new market or a class of assets with a lower risk.
”Crypto ‘Winter’ usually allows super long-term focused institutions to enter the market at non-dangerous price. Do you know what’s scary? This is what you invest in a 80 percent decrease in what you invest, this is the frightening thing. ”
Bitcoin is not expected to enter a 30 -storey increase in 2013. However, long -term stability can allow BTC to create stronger support levels. The low price range increases the probability of both short and medium -term rally.
Bitcoin’s price and market capacity
Yellow: Bitcoin Price, Red: Bitcoin Market Capital, Source: Cointlegraph.Follow us on Twitter to be informed of last -minute developments, like our Facebook page and join our Telegram channel!