• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Analyst: Bitcoin (BTC) May be Gearing up for a Large Price Move as Volatility Plunges

Cole Petersen by Cole Petersen
3 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

Ever since Bitcoin (BTC) dropped below its previous support level of $3,550 last week, the cryptocurrency has been experiencing a bout of sideways trading at its current price levels. Bitcoin’s recent price action seems to confirm $3,500 as a new level of resistance, but it has also established $3,400 as a level of support that has held over the past couple of weeks.

Although Bitcoin has been trading flat recently, multiple analysts expect it to see a large price swing in the near future, as the charts show that BTC’s volatility is nearing a fresh demand zone, which is typically proceeded by a large price move.

Bitcoin (BTC) Volatility Plunges, Likely to Increase Significantly in Near Future 

At the time of writing, Bitcoin is trading up marginally at its current price of $3,460. Over the past seven days, Bitcoin has been trading choppily between approximately $3,400 and $3,500 and has been narrowing this range over the past couple of days.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

This isn’t the first time Bitcoin has seen an extended period of sideways trading. Last-September Bitcoin saw a similar trading situation within the $6,000 region, trading choppily in a slightly larger trading range between $6,300 and $6,700.

While looking at the Bitcoin Historical Volatility Index, Hsaka, a popular cryptocurrency trader on Twitter, noted that the cryptocurrency’s volatility has dropped to a new demand zone, which is typically proceeded by a large price move.

“$BTC volatility testing a fresh demand zone…. B I G  M O V E   I N C O M I N G,” he said.

$BTC volatility testing a fresh demand zone.

B I G M O V E I N C O M I N G. pic.twitter.com/u1YqmSy42k

— Hsaka (@HsakaTrades) February 5, 2019

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

One Analyst Expects BTC to See a Large Drop Before It Begins Climbing

Although the aforementioned price swing could be in either direction, based on the fundamental weakness of the markets in their current state, analysts expect Bitcoin to see further losses before it gains enough buying pressure to reverse the current downtrend.

The Crypto Dog, a popular cryptocurrency analyst on Twitter, recently noted that he wouldn’t be surprised if Bitcoin fell as low as $1,800, which would naturally cause the entire cryptocurrency market to follow suit.

“$1800 $BTC and $50 $ETH wouldn’t surprise me… I don’t know for any certainty we’ll see those prices, nor do I mind if we reach them or not… If you’re in $BTC for the long haul, DCA. If you’re learning to trade, just survive. Keep your risk low, gains will be easier someday,” he said.

$1800 $BTC and $50 $ETH wouldn't surprise me.

I don't know for any certainty we'll see those prices, nor do I mind if we reach them or not.

If you're in $BTC for the long haul, DCA. If you're learning to trade, just survive. Keep your risk low, gains will be easier someday.

— The Crypto Dog? (@TheCryptoDog) February 5, 2019

Although he does see $1,800 as a possibility, The Crypto Dog further noted that he does not believe a drop to $1,200 is likely.

“Of course there is always the ~$1200 crew. Many analysts believe we won’t see a bottom until we touch the highs of the 2013 bull market & revisit this patch of price action that really kicked off the parabolic run in 2017… I’m not so sure that we drop that far,” he added.

…and of course there is always the ~$1200 crew. Many analysts believe we won't see a bottom until we touch the highs of the 2013 bull market & revisit this patch of price action that really kicked off the parabolic run in 2017.

I'm not so sure that we drop that far. pic.twitter.com/ZVrHAW5Sgd

— The Crypto Dog? (@TheCryptoDog) February 5, 2019

Based on the likelihood of an incoming surge in volatility, traders will likely be carefully watching which direction Bitcoin moves, as it could signal whether or not the persisting bear market will continue on or begin to reverse.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
Tweet123Share229ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

19 hours ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

22 hours ago
bitcoin bear

New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000

24 hours ago
Bitcoin

Why Bitcoin Could Collapse Another 50%, Says Michael “Big Short” Burry

1 day ago
Crypto Market Loses $60 Billion As Bitcoin Dips Below $20,000

Crypto Market Loses $60 Billion As Bitcoin Dips Below $20,000

1 day ago
Bitcoin

Bitcoin Sees Worst Quarter In 11 Years

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Don’t Miss Out On Experts’ Top Crypto Picks! Gnox (GNOX), Algorand (ALGO) And VeChain (VET) Set To Lead Bullish Market

July 2, 2022

LBank Exchange Will List DEBT on July 5, 2022

July 2, 2022

LBank Exchange Will List Metavie Token (METAVIE) on July 5, 2022

July 2, 2022

Holon (HLN) Is Now Available for Trading on LBank Exchange

July 2, 2022

LBank Exchange Will List METAFASTEST (METAF) on July 1, 2022

July 2, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.