Bitcoin Records Its Lowest Volatility In the Past Two Months with Only Modest Price Movements
After the bull run has cooled down a bit, Bitcoin’s price has become more stable lately. This week, volatility has reached its lowest point since June. The 30-day volatility of the token fell to only 64 recently, according to data provided by Digital Asset Data and Blockforce Capital.
During its peak in July, the volatility reached 131. The current figures are 50% below that. The monthly range of BTC has also dropped a lot recently, which is coherent with the lack of volatility. This topic has reached its lowest value since March, as shown by the market data.
It was a long and volatile road until here, though. Bitcoin went up by 200% this year. The bull run happened mostly between April and June when the token reached the price of $14,000 and then went back to the $10,000 USD mark.
Ever since this happened, the volatility has remained low. There are some spikes up and down but the market is currently consolidating a strong bottom at the $10,000 figure.
David Martin, the CIO of Blockforce Capital, affirmed that Bitcoin has consolidated its price. Joe DiPasquele, from BitBull Capital, also gave his opinion on the matter. According to him, the prices are getting stable because there is still a lack of retail investors in the market.
He believes that the market has not yet fully accepted the $10,000 psychological barrier and if prices go down, they might plummet quite quickly. This is the main reason why investors are afraid.