Experts say that low volatility could mean that Bitcoin has found strong support above $ 10,000. Skew’s data has traded over $ 11,500 for just 93 days since it was created. This means that most Bitcoin holders are currently making a profit.
Combined with unusually low volatility, experts argue this could be a strong bullish sign.
The price of Bitcoin (BTC) is above $ 11,500 and is rising. In fact, according to the crypto analytics firm Skew, only 93 days have passed in the entire history of cryptocurrency.
Skew’s researchers also stressed that this is the first time they realize that volatility is very low as the price of Bitcoin hovers above $ 10,000. This usually means the price will consolidate in the current trading range, according to Febrero.
“If we see volatility rising, it could mean that btc / usd is preparing for a big move up (more likely) or down. “Bitcoin has always had periods of high volatility, but it is unusual for it to trade with such low volatility at over $ 10,000,” he said.
Febrero explained that it is odd for BTC to show such low volatility at its current price, as Bitcoin is often traded above $ 10,000 during its upward movements.
“Interestingly, it could also mean that btc / usd eventually found strong support of over $ 10,000 – which is an extremely bullish sign,” he said.
Perhaps the prediction that “we will never see Bitcoin below $ 10,000” is finally coming true.