bitcoin Despite the positive economic data from the US, it continues to trade in a certain range, trying to surpass the $28,000 psychological level.
However, some data BTC’It signals that there may be significant increases in the price of .
In this context, the popular analytics platform IntoTheBlock In his post on his Twitter account, he said that the volatility in Bitcoin fell below 40% for the eighth time in the last five years.
According to IntoTheBlock’s analysis, if volatility in BTC stays below 40% for five weeks, this could result in a 46% price increase.
“The volatility in Bitcoin has reached historically significant lows.
Looking at the 60-day BTC volatility, it fell below 40% for the 8th time in the last 5 years.
On average, if BTC volatility stays below this level for 5 weeks, it could result in a 46% price increase.
It should also be noted that in the face of the price increase, BTC crashed 3 times by 50%.”
$BTC volatility reaches historically significant lows.
📉60-day annualized volatility has fallen below 40% for the 8th time in the past 5 years
💰On average $BTC vol remains below this level for 5 weeks and results in a 46% price gain
⚠️However, 3 crashes of 50% have followed… pic.twitter.com/TW8NozgIqE— IntoTheBlock (@intotheblock) May 18, 2023
On IntoTheBlock share BTC’He also stated that investors should not ignore the possibility of a decrease, although he stated that the probability of a decrease in the stock price is higher than the probability of a decrease.
Bitcoin, which went up to $31,000 on April 14, has been under pressure ever since. Tried $29,000 in early May BTC did not succeed in this.
*Not investment advice
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