Blockforce Capital data shows that Bitcoin’s volatility has dropped to its lowest level since May. It almost seems like Bitcoin’s wild price swings in June and August never happened.
An unsettling calmness
As reported by U.Today, market analyst Jim Wyckoff is certain that Bitcoin will continue its streak of sideways trading in the coming days, which essentially means that the top cryptocurrency will become even more stable.
However, multiple analysts believe that this is simply “calm before the storm.” BitBull Capital CEO Joe DiPasquale claims that Bitcoin’s unprecedented stability will “bode well for its future valuation.”
Things change fast
Back in May, Bitcoin was ranging in the $7,000 region before surging to almost $14,000 in July.
Hence, it might not take long until BTC starts showing its volatile side once again with both shorts and longs being wiped out left and right.