The volatility of the crypto beast had reached its new high in February after beginning its journey to a new lofty height in April 2020 when almost all cryptocurrencies reached their new highs.
The annualized volatility of cryptos on a 30-day level has reached 114.51% on February 8, 2021, which is the most since the 10th April 2020, as reveals by data provided by an asset manager in Blockforce Capital.
The data by Blockforce further shows that the figure that has been recorded has higher data comparing to the historical volatility on a 30-day range of 63.78% that bitcoin has recorded, tracing history back to 2013.
The Bullish Run and its Resilience
The digital currency has experienced a swift change in the data in the month of its bullish run, where the price rose to a new ATH (All-Time High) of $57,487.03. Data from a popular crypto website reveals that BTC has risen to over 73% in just February.
Looking back to how the coin started the year 2021, it is obvious that BTC has been having an excellent year so far, having doubled its previous price of about $28,900 at the beginning of the year. These gains in the market have contributed to the massive bullish trend that the crypto world has experienced recently since experiencing a major dip in March 2020. Since that major dip, BTC has risen to over 1400% to make its new market price.
Comparing this recent bullish momentum to the one that happened around 2017 to 2018, the digital currency has shown a very high level of resilience in the bull market.
In 2017, December precisely, BTC rose to about $20,000 but was unable to sustain the rise and then in the following month fell below $10,000. This began the journey of a bearish trend till December 2018, when the price in the market hit about $3,000.
Can Optimistic Predictions be real?
Moving forward from here, there has been great and optimistic predictions around digital currency, but not anyone can say exactly where the price will head to for now. Though beyond the uncertainties, many observers and analysts have chosen the bullish trend as their next prediction of the BTC price action.