Analyst: Bitcoin volatility will come faster than expected
Date: 2023-07-26 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
In his opinion, the upcoming volatility of the flagship cryptocurrency can compete with its growth of 40% since January 2023
Buffinton noted that in July, the price of bitcoin fluctuated in a narrow range around the $30,000 mark, which became a kind of test for both bulls and bears. And more often than not, such a flat occurs before major movements.
As evidence, he cited the Bollinger bands and the visual display of the indicator, which shows that bitcoin is in the narrowest state on the price chart since the beginning of 2023.
Since January, the price of bitcoin has almost doubled: BTC started the year at $16,530, but over the past seven months, the first cryptocurrency has reached an annual high of $31,818 , showing an increase of 91.84%.
On the evening of July 23, bitcoin again rose above $30,000, which has long been considered a psychologically important support. For many market participants, this is a sign of a future upward movement.
