Analysts: Decline in volatility of bitcoin says about approaching the bullish rally
Market analysts Bloomberg believe that reducing the volatility of bitcoin is a strong indicator of the cessation of the fall of the cryptocurrency market and readiness for the new bullish rally.
Just a few days ago it became known that, according to CBOE Global Markets, bitcoin is currently less volatile than stocks stock market: Amazon, Netflix, and NVIDIA. Data Chicago Board options exchange also show that the 20-day historical volatility of bitcoin approaching the same level of Apple stock (APPL).
Mak-Glen also believes that the decline in volatility is evidence of the achievement of the bitcoin bottom, which had been waiting for traders. The above dimensions are not the only one who thinks so. Charlie Morris of the London Atlantic House Fund Management made a similar prediction for BTC in an interview with Bloomberg.
According to Morris, the cryptocurrency market “calmed down and is now in the balance”, and speculative interest in digital assets reached annual lows. Adhering to the opinion that the rate of bitcoin will not fall below current values, Morris argues that “the market of digital gold is already ready for the next major bullish movement.”