These three analyzes say that the consolidation of Bitcoin (BTC) in the region of about $ 9,000 for a month could end when BTC’s volatility reaches a critical level.
Bitcoin (BTC) Returns to Pre-Purge Levels
Crypto currency analyst CryptoBirb said the leading cryptocurrency is preparing for a big move after trading for a month and a half in a narrow range.
— CRYPTO₿IRB (@crypto_birb) June 13, 2020
Cryptocurrency strategist Edward Morra emphasizes that BTC’s volatility has returned to the level it had reached before the cryptocurrency crashed in March.
BTC volatility, which reached the lowest levels in the quarter, returned to pre-liquidation levels. ‘Big moves’ can be expected from BTC next week.
Trader Cantering Clark reiterated Edward Morra’s thoughts on Bitcoin’s volatility and said that the low volatility of BTC lays the ground for an explosive move.
“All I know is that thanks to BTC’s realized and expected volatility, we have to take a big step in any direction.”
Earlier this month, the cryptocurrency exchange Kraken released a VIP Bitcoin analysis that predicted high BTC volatility in the coming weeks. The report states that the number of transactions of the cryptocurrency, which is a measure of the leading cryptocurrency’s number of unapproved transactions in the network, has increased. The cryptocurrency exchange points out that increases in unconfirmed transactions are seen before periods of increased volatility.