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    Home » Low bitcoin volatility on the eve of growth rate, the forecast of analysts Bloomberg

    Low bitcoin volatility on the eve of growth rate, the forecast of analysts Bloomberg

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    By BlockchainJournal on October 26, 2018 News
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    Market analysts at Bloomberg believe that the decrease in bitcoin volatility is a strong indicator of the end of the fall in the cryptocurrency market and readiness for a new bull rally.

    Just a few days ago it became known that, according to CBOE Global Markets, Bitcoin is currently less volatile than stock market shares: Amazon, Netflix, and NVIDIA. The data from the Chicago Stock Options Exchange also show that the 20-day historical volatility of Bitcoin is approaching that of Apple stock (APPL).

    The rapidly declining volatility of cryptoactive assets , especially BTC, has led many industry analysts to change their forecasts regarding the short-term and medium-term prospects for developments in the cryptocurrency market.

    According to Bloomberg, over the past four weeks, only one day was recorded, when the Bitcoin exchange rate underwent a 5% change. In January and February 2018, the daily volatility of BTC was stable at 9%.

    Commenting on this data, Mike McGlon, an analyst at Bloomberg Intelligence, who previously believed that bitcoin would drop to $ 900, noted that the current low volatility levels indicate that speculators are gradually leaving the cryptocurrency market.

    “The high volatility of Bitcoin was one of the main reasons for the lack of cases of the use of cryptocurrency in real life. The only true way to exploit Bitcoin in such conditions could only be speculation. ”

    McGlon also believes that the reduction in volatility indicates that Bitcoin has reached the bottom that traders have been waiting for. The aforementioned analyst is not the only one who thinks so. Charlie Morris from London-based Atlantic House Fund Management made a similar prediction for BTC in an interview with Bloomberg.

    According to Morris, the cryptocurrency market “has calmed down and is now in equilibrium,” and speculative interest in digital assets has reached annual minimums. Adhering to the opinion that the course of Bitcoin will no longer fall below current values, Morris argues that "the digital gold market is already ready for the next major bullish movement."


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