Despite the positive economic data from the USA, Bitcoin continues to trade in a certain range, while trying to surpass the psychological level of $ 28,000.
However, some data signals that there may be significant increases in the price of BTC.
In this context, the popular analytics platform IntoTheBlock shared on his Twitter account that the volatility in Bitcoin fell below 40% for the eighth time in the last five years.
According to IntoTheBlock's analysis, if volatility in BTC stays below 40% for five weeks, this could result in a 46% price increase.
“The volatility in Bitcoin has reached historically significant lows.
Looking at the 60-day BTC volatility, it fell below 40% for the 8th time in the last 5 years.
On average, if BTC volatility stays below this level for 5 weeks, it could result in a 46% price increase.
It should also be noted that in the face of the price increase, BTC crashed 3 times by 50%."
$BTC volatility reaches historically significant lows.
📉60-day annualized volatility has fallen below 40% for the 8th time in the past 5 years
💰On average $BTC vol remains below this level for 5 weeks and results in a 46% price gain
⚠️However, 3 crashes of 50% have followed… pic.twitter.com/TW8NozgIqE— IntoTheBlock (@intotheblock) May 18, 2023
Although IntoTheBlock stated that the probability of BTC rising is more than the probability of falling, he also stated that investors should not ignore the possibility of falling.
Bitcoin, which went up to $31,000 on April 14, has been under pressure ever since. BTC, which tried $ 29,000 at the beginning of May, did not succeed in this.
*Not investment advice
