The volatility index of bitcoin reached a 17-month low
The recent fall of the Tether and the buildup of dollar courses tablconv pushed bitcoin into the background, which is not surprising — its course, there is nothing substantial, and for quite some time, which in itself is quite unusual.
Cryptocurrency No. 1 keeps quiet for the period from August 9, the course left the corridor of $6300-6800 a few times, then returning again to the framework. This stability is a good Foundation for the next rally, but not the fact that we will see him again in 2018, experts say.
In mid-October, the volatility of bitcoin has reached a record low in more than a year, while the trading volume is steadily and gradually reduced until I updated the annual minimum, reaching $3.2 billion on 7 October.
With bitcoin a long time nothing like that had happened — according to the platform’s Willie Woo Woobull, something similar was observed five years ago. Then the volatility of bitcoin has decreased to record levels in Oct 2013 and the rally from $30 to $1000 per bitcoin by end of year.
A harbinger of the rally called the current calm, however even the notebook CryptoUtility like Mike Novogratz, are forced to move their previous growth forecasts for next year.
So very reluctantly bitcoin reacts to positive news — announcements of new regulated sites like Bakkt or ErisX or create Fidelity Digital Assets — all these really big projects that can provide strong capital inflows. However, the stock market is obviously waiting for the first tangible results of these projects or the actual start of their work.
As reported Hash#Telegraph, the current lull in the market has two common interpretations of the directly depends on relationship experts to bitcoins and cryptocurrencies in General. Critics say about the gradual decline of investors and the damping of the industry, Optimistic about growing the market and reducing the role of speculative investments in the cryptocurrency.