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bitcoin price volatility
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Low Volatility Bitcoin Price Action: Decision Time Is Near, Powerful Move Incoming

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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Bitcoin price is one again trading in the low $10,000 range, following a weekend trading around mid-$10,000 and yet another failure to break out higher. As a result of the lack of a clear direction being chosen, volatility has dropped to the lowest point it has been in some time and is approaching lows from November 2018 and April 2019.

When volatility drops this low, just like it did during those two key dates, Bitcoin price makes a massive, powerful movement, and finally makes a decision on the trend ahead. Should something similar occur, a “massive” 25% or more move could be possible, according to one crypto analyst.

Bitcoin Price Volatility Reaches Levels Not Seen Since Nov 2018 or April 2019

Bitcoin and other crypto assets are both lauded and feared for their notorious volatility. For investors, the volatility can be difficult to stomach at times, as Bitcoin price can rise to $20,000 in months, only to fall back down to $3,000 retracing over 80% of the gains it saw.

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Related Reading | Power Law: Tracking Bitcoin’s Growth to $100K and Beyond 

But for crypto traders, volatility is why Bitcoin and the rest of the asset class make for such attractive financial markets. The massive price swings are ideal for traders who seek to buy low and sell high and can lead to a fortune being made trading on leverage using platforms that offer margin.

However, that lucrative volatility is currently non-existent, with Bitcoin price trading within a $200 range for much of the weekend. The volatility levels are reaching lows not witnessed since November 2018 or April 2019.

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$BTC decision time soon pic.twitter.com/QVJn1Q6faD

— K A L E O (@CryptoKaleo) September 16, 2019

In November 2018, Bitcoin price fell through what was thought to be unbreakable support at $6,000, dropping over $3,000 over the course of the following month before it bottomed in December.

In April 2019, Bitcoin price rose over $1,000 in the matter of an hour and kickstarted Bitcoin’s bull run and parabolic rally to the current trading range.

Yet another one of these massive, 25% or more Bitcoin price movements is expected, says one crypto analyst, that’ll put an end to the low volatility and help choose the trend for the days and possibly weeks and months ahead.

#bitcoin volatility is nearing the lows we saw in both November '18 and April '19

My expectation is a massive expansion (25% + move) within the next 45 days. pic.twitter.com/raSNtkRiBA

— Nick Cote (@mBTCPiz) September 16, 2019

A break up out of a multi-month triangle would have Bitcoin price retesting $14,000 where it was rejected back in June, and would likely have the momentum to break above it on its second attempt.

Related Reading | Poll: More Than Half of Bitcoin Investors Expect Triangle Breakout 

However, should Bitcoin price break down instead, the target would be in the $7,000 range, with a possibility of dipping under $7,000 to touch previous bear market support, confirming it as such. Alternatively, because there are so many buyers expected at $8,500 waiting to buy the dip, Bitcoin price may never reach those lower targets and could be propelled right back up to test the high end of the range.

Regardless, the days ahead are critical for Bitcoin price and should result in a clear trend direction and a return of volatility.

Tags: Bear marketbitcoinbitcoin pricecryptovolatility
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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