Bitcoin Volatility is greater than Ever: What is the Next Target?
The bitcoin has a greater level of volatility than any other cryptocurrency. The greater extent of volatile nature cleared in a recent movement when it reached $10,600 on Oct.26 and the change was almost 43%, the highest daily run since 2011.
As the skew markets show that Bitcoin has volatility more than any other cryptocurrency in the market and we also know that the upsurge of digital gold is far greater than any other coin and recorded at the end of October (43% change) and even, Ethereum has not volatility to such extent.
Monthly Gear Up
If we move our eyes to the last data at the start of the month, we come to know that at the start of August, the price value has been surged by almost $1,000 and changed from $10,000 to $12,200. And a similar case is observed at the start of September.
The Bitcoin is hovering below $10,000 but still standing above $9,000 that could serve as a consolidation phase for digital gold. The period of closure and opening of the month always remains a game changer for BTC and most of the time price value sets its direction in an upward trend.
Analyst Views
Crypto enthusiasts are very much optimistic and speculating that $10,000 is the next target and moreover, the value has already in the bullish trend. Turtouse, a crypto spectator has shared its sentiments over Twitter:
BTC Tomorrow is the day where the relative time period to the 2018 bottom ends. We already had a massive rise in price but bulls aren’t out of the woods yet. Tomorrow is also the monthly close. Expecting a big move on BTC.
Another crypto analyst, as well as a trader, said that BTC is moving towards $10,000 which is a very important level to stir the crypto markets. He expressed by saying,” Daily support below, while overhead is the weekly and monthly open (resistance) with a break and close above these areas on higher time frames will likely be a signal to move up in the $10ks.”
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