The bitcoin volatility scenario can be labeled as “calm before the storm”. Bitcoin ends the trading week while remaining below the $10,000 corridor.
For multiple weeks, bitcoin is dropping from lower to lowest in the stock market. The overall condition of BTC is still uncertain but according to the few analysts, the graph can be stable in more upcoming weeks. BTC is facing a kind of tug war from the past few weeks.
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After hitting very low on Oct 17, bitcoin rose to $10,350 worth of value. This seems like bitcoin is rising from ashes. According to the technical analysis theory, low-volatility leads to a big change in one direction. This is what happened with the bitcoin which was risen.
Due to this continuous low volatility, the gauge rate was dropped to 0.08. The rate was calculated Bollinger bandwidth which places the price volatility gauge. The coin desk’s index reflects that this gauge rate is the lowest gauge rate since October 2019.
Is bitcoin gearing up for massive Explosion?
Below are the stats and trading view of the bitcoin bandwidth of 2019 and 2019.
The traders of bitcoin showing their sentiment sign that this will be led to a future U-Turn. From very going to lose to neutral to better. So we see history as a guide to prevent us from the upcoming lowest loose, bitcoin maybe break out of its shell, and trade on its peak by crossing the edges of the graphs. As per the reports released by the option market data investors are looking up for the bets in the crypto. The head of the department of digital assets at Swiss Bank reported that:
The Chicago Mercantile Exchange appears to be stepping up its options presence as we’re seeing some larger orders come into the market with mainly call buying from 11k-13k one to three months forward
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If the market doesn’t open in the same place where it was closed last week, there are high hopes that VTC will definitely fill the Vacuum and will tend to rise.
