Forex and Crypto News

Is Bitcoin Volatility Returning?

11:17 07 November /2019

At the end of October 2019, Bitcoin showed large price fluctuations, which indicates the return of volatility to the market. Bitcoin began the month from $8,400, and on October 6 fell below $7,800.

Then expansion resumed, and the coin returned ​​above $8,800 on October 11th. On October 23, the market saw a new fall in the price of BTC, this time the cryptocurrency fell to $7,300 on some exchanges.

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However, at the end of October, a sharp increase in investments provoked a rise in Bitcoin price by 40% to $10,300. After that, observers recorded a new drop to $9,070 we want to note that Bitcoin has not descended below the psychological mark of $9,000.

Some analysts believe that large holders of this asset are not interested in a more significant reduction in the value of BTC at this stage.

According to David Martin, investment director of Blockforce Capital, at the end of October, Bitcoin returned to its normal state - maintaining a wide range of price fluctuations.

According to analyst Mati Greenspan, the statement by Chinese leader Xi Jinping about the need to develop the blockchain industry in China has become a watershed for the cryptocurrency market. After this announcement, we saw a new wave of investments in BTC.

The monthly volatility index of Bitcoin amounted to about 73%. However, compared to the average indicator of price fluctuations since 2014, the October cryptocurrency volatility index was about 10% lower, David Martin added and recalled that since 2014, the average BTC volatility has been around 82%.

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