The volatility of Bitcoin has fallen to a minimum since November 2018

13.03.2019 10:59:23

In March the volatility of Bitcoin has dropped to its lowest point for the last four months.

According to the SFOX service, the 30-day volatility of the BTC/USD pair fell to its lowest level since November 14 last year, according to a review by Forbes analysts.

SFOX expert Danny Kim stated:

In recent months, we have seen tough trading with range constraints with very short bursts of volatility, during these periods prices have risen, then sharply decreased

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This analyst is confident that the current position of Bitcoin doesn’t allow more or less accurately predict the further dynamics of the movement of the coin. A similar situation was observed in the late spring of 2017.

Over the past week, Bitcoin has been trading in the range of $3,800-4,000. Analyzing the BTC movement, analysts suggest that the largest cryptocurrency is consolidating at the current level. However, the coin won’t be able to hold on to this position for a long time.

Most likely, we will see the growth of volatility, while Bloomberg analysts generally expect a decline in the BTC rate. According to them, traders are preparing for a massive reset of funds in Bitcoin.

In this situation, there is a possibility that Bitcoin will drop to $3,500 or even to $3,000, said eToro analyst Mati Greenspan.