Record Low Annualized Volatility Points Bitcoin Towards $23K Target

tKVIMUWq 980x580

A fractal that, on its last appearance, sent the Bitcoin price up by 140 percent flashed again this quarter. According to a report by Kraken – a US-based crypto exchange, the cryptocurrency’s realized volatility in late July fell to 22.8 percent. The last time the readings were that low was in October 2018. Two months after that, Bitcoin bottomed near $3,120, which followed a 329.63 percent rally in the later quarterly sessions. Bitcoin at $23K In retrospect, Realized Volatility reflects an asset’s magnitude of daily price movements over a specific period. It does not necessarily predict the future market trends but weighs heavily on how traders react around higher or lower price fluctuations. So far, Bitcoin traders had inclined towards buying the cryptocurrency when its realized volatility goes down. It points towards an imminent price rally ahead. Noted market analyst Lark Davis stressed the same in his latest tweet. “Bitcoin’s…

Read the original article here