Crypto Analyst Believes the Crypto Market Could Experience Increased Volatility in the Near Future
Bitcoin has been traded between $3,500 and $4,100 during the last few weeks. In the last days, Bitcoin (BTC) has also experienced sideways trading being close to $3,650. Other digital assets in the market are also being traded sideways. There are some analysts that believe that Bitcoin will be experiencing some increased volatility in the coming days.
According to Josh Rager, a recognized cryptocurrency analyst on Twiter, said that after two low volume days of consolidation Bitcoin shown to have at least $200+ price action within the following day. He says that it is necessary to wait until Friday or Saturday to see if there is increased volatility in the crypto market.
$BTC Daily Chart
After two low volume days of consolidation (see circled in the chart)
Bitcoin has shown to have at least $200+ price action within the following day
We'll see if Friday/Saturday holds true and allows for more volatility pic.twitter.com/Xkv6xtso4j
— Josh Rager 📈 (@Josh_Rager) January 17, 2019
In general, when Bitcoin, the largest digital asset in the market moves, the whole crypto market follows the trend. If Bitcoin falls under $3,500 the market could keep falling and making Bitcoin drop even further. There are other analysts that believe that Bitcoin will reach new lows in the near future. Some of them say that it might be possible to fall under $3,000.
Ethereum (ETH), the third largest digital asset in the market by market capitalization has been experiencing higher volatility due to the fact that the Constantinople upgrade was canceled a few days ago. It might be possible for the digital asset to keep growing if the Constantinople hard fork goes as a planned after being delayed two times in the last months.
At the moment of writing this article, Bitcoin is being traded around $3,668 and it has a market capitalization of $64 billion. In the last 24 hours, it registered an increase of 0.9%. The top 10 market has just one digital asset experiencing moves larger than 2% up or down. TRON (TRX) has increased by 2.65% in the last 24 hours.
Bitcoin could soon start to move up or down and investors must be prepared for it.