Analytics / Forex and Crypto News
Bitcoin volatility has become one of the themes of March. Within a month, Bitcoin's volatility was over 300%. And the BTC/USD price chart confirms this. During March, the price of Bitcoin reached a maximum of $9219, then within a few days, it fell to a minimum of $4435, and again soared to the area of $6400. However, since March 19, the price of Bitcoin has been traded in the outlined trading range of $5400 - $6700. The level of volatility is calculated over 10 days and here we take into account only 6 days, but this indicator may indicate that volatility is decreasing and the market is entering the consolidation phase.
The chart shows that from March 14 to 19, the Bitcoin price volatility exceeded 300%, but then it almost fell by half to 156%.
It is worth noting that the price of Bitcoin showed a maximum drop on March 12, but as can be seen from the chart, for 5 days the volatility remained high. Although from March 13 to 19, the price of Bitcoin increased by only 12%. This means that the market acted not under the influence of fundamental data, but by inertia.
In annual terms, the level of volatility of Bitcoin also remained high. The bitpremier chart shows that the level of volatility rose from 3.72% on March 12 to 4.75% on March 24.
Although in the short term, the price volatility of Bitcoin has decreased, in the long term it can remain at a high level. As the long-term trend is formed from the short-term. March 12-13 has become a landmark for the cryptocurrency market. And if such events recur, then the volatility will remain at a high level. Despite the decrease in volatility, the probability of its growth remains, but the decrease in turbulence over the past 10 days is the beginning necessary for the industry for a stable future soon.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
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