Bitcoin (BTC) chart and prices have been very uncertain, especially since June 2020. Although the Bitcoin price saw the bottom point with the volatility in the 1st and 2nd weeks of June, it allowed crypto money investors to feel comfortable at first, but it was feared and the explosion took place.
It turned out that the 10-day volatility of Bitcoin has fallen to levels not seen since 2019. This situation is commonly known as the calm before the storm, and BTC acted as predicted, introducing investors to the storm after this silence. BTC, which made a rapid exit to the $ 9,800 levels and is thought to push the resistance at $10,000, suddenly fell to the bottom of the $9,000 level.
How does Bitcoin chart Volatility affect price?
The fact that the price of Bitcoin has undergone such a sharp change and decline with the graph surprised many experts. Despite this, some experts state that they have already stated that such a decrease is expected according to the Bitcoin Volatility table, which can be seen below. After the sharp decline in the continuation of volatility, Bitcoin entered a very stagnant period again, and analysts are warning of a different move this time.
Josh Rager, one of the leading cryptocurrency analysts, stated that a similar situation had occurred in 2019 and the bull market started after that. Indeed, when we look at the movements of Bitcoin in May 2019, we come across a period that lasted for weeks and saw the bottom in terms of volatility.
If the Bitcoin chart and prices show a similar trend to 2019, it may be possible for the price to rise sharply as in 2019. As a matter of fact, after a long stagnant period in 2019, Bitcoin rose up to $ 14,000, allowing a similar situation to be experienced in 2020. Bitcoin, which has not been able to hold above $ 10,000 for a long time, may start the expected rally with the end of this volatile period.
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