Investors are looking forward to the beginning of 2023 after 2022, which was a difficult year with heavy declines. bitcoin including all cryptocurrencies He hopes it will be a year of upswing for him.
While some analysts think that the decline will continue in 2023, some analysts state that technical indicators and some data point to the rise.
SatoshiActFund CEO Dennis Porter, who shared some data on the rise, shared on Twitter. bitcoin He said volatility is currently at historic lows.
Adding a chart to his share, the CEO said that when Bitcoin volatility dropped this much after the last time it fell to these levels. BTCHe argued that there was an increase of 600% in .
“After the last time Bitcoin volatility hit such lows, there was a 600% increase in BTC.”
In the graphic he added to the Porter share, BTC states that its volatility last experienced a similar decline in volatility as it is now in late 2020.
As it will be remembered, Bitcoin left the consolidation phase in October 2020, and then reached its ATH of $ 69,000 in November 2021 with the increases it experienced in 2021.
If we consider together that BTC was around $10,000 in October 2020 and reached $69,000 in November 2021, Bitcoin experienced a nearly 600% increase from October 2020 to November 2021.
Shared by Dennis Porter with historical data of Bitcoin bitcoin When the volatility data is evaluated together, time will tell whether there will be a 600% increase in BTC again.
*Not investment advice.