The current price of Bitcoin is still lurking behind its all-time high back in the day, which was $61.8k, but despite this very fact, Bitcoin might be getting ready to make another subtle move forwards, and it could be the biggest move the strongest cryptocurrency by market cap has made till now. Various metrics for understanding the current productivity of Bitcoin and other digital assets are used, and one such element is the Bollinger bandwidth which suggests that the volatility is about to erupt.
The past connections of such a scenario taking place resulted in various positive moves and trends sticking with Bitcoin, and its price did go upwards elementarily. But with the passage of time, these moves have been decreasing in size, which could mean a negative price trend that would ultimately end up shaking the sustainability Bitcoin has scored up till now, and a massive hurt could dissolve the groundwork that is being done till now to make Bitcoin a leading digital global asset.
Bollinger Bandwidth Suggests a Sudden and Raving Shift in Price in Either Direction.
The older trading patterns of Bitcoin suggest that a new move of reaching an all-time high price point is imminent, suggesting that the cryptocurrency could have about a 130% increase in its value when it did back then, breaking the $20k price limit. But this bullish trend did settle out soon enough, and after that, it leads to a consistent decline in its price, which had severe effects on not only the performance of Bitcoin in the crypto market but also the trust of the investors into deploying their financial assets into the digital currency.
Something big is coming and will take effect in terms of changing the fate of Bitcoin forever, but in which direction this change will take place, i.e., the upward or downward direction is still unknown, but there are a lot of theories at play, and still, it is not clear which ones you should be trying or pursuing in these confusing times. Maybe if something is to come and hit hard with Bitcoin, it will take place at its own time, and go with the flow strategy should be adopted here as the best possible approach.