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As Bitcoin’s Volatility Hits Historic Lows, Traders are Eyeing a Move to $13,000


As Bitcoin’s Volatility Hits Historic Lows, Traders are Eyeing a Move to $13,000

All of Bitcoin’s recent volatility has occurred within a relatively tight trading range between $9,000 and $10,000. There have been a few occasions in which the cryptocurrency has broken above or below these range boundaries, but each time has been short-lived and followed by a swift movement back into the range. This range was first formed in early-May. It isn’t showing any signs of breaking anytime soon. A result of this price action has been Bitcoin’s volatility hitting historic lows. Volatility levels this low are rare and are virtually always followed by massive movements. As for where this potentially imminent movement could lead the benchmark crypto, one analyst is setting his sights on $13,000. He also noted last month that there is a major liquidity pool sitting around $10,500, which could act as a magnet for the cryptocurrency’s price. Read More...