Recently, the crypto market had displayed a sign of rally with the world's largest cryptocurrency by market cap, Bitcoin had reached $19,600 space. While, just a day after the flagship currency began its downward journey which is now trading moderately above $19,000. According to Coinpedia's latest article, Bitcoin is selling at $19,158 with a surge of 0.60% in the past 24 hours.
The company also specifies that though Bitcoin had too many ups and downs at the beginning of 2022, in recent times the asset is finding some stability, But, as the flagship currency is stable at its trade between $19,000 and $20,000, the assets's volatility has reached a lower level.
Coinpedia explains this by providing an example, where they are pointing about the Bitcoin's volatility hit an all-time low on October 21, as portrayed by Crypto trader and influencer called Livercoin. According to the Livercoin, the last time when Bitcoin's volatility had dropped this low was two year back. However, the current macroeconomic events has pulled back Bitcoin to approximately 70% from it's all-time high of $69,000.
The major reason for such a low volatility directs towards several factors such as decreased trader interest. The exact reason was confirmed by Santiment in the platform's October 19 report that there was an outflow of 40,572 BTC in a day. On the contrary, this low volatility has become a matter of concern for market professionals. Along with volatility, Bitcoin trading volume has also dropped by nearly 50%. Therefore, as per Coinpedia, the next few days are highly crucial for the King currency Bitcoin.
The company also specifies that though Bitcoin had too many ups and downs at the beginning of 2022, in recent times the asset is finding some stability, But, as the flagship currency is stable at its trade between $19,000 and $20,000, the assets's volatility has reached a lower level.
Coinpedia explains this by providing an example, where they are pointing about the Bitcoin's volatility hit an all-time low on October 21, as portrayed by Crypto trader and influencer called Livercoin. According to the Livercoin, the last time when Bitcoin's volatility had dropped this low was two year back. However, the current macroeconomic events has pulled back Bitcoin to approximately 70% from it's all-time high of $69,000.
The major reason for such a low volatility directs towards several factors such as decreased trader interest. The exact reason was confirmed by Santiment in the platform's October 19 report that there was an outflow of 40,572 BTC in a day. On the contrary, this low volatility has become a matter of concern for market professionals. Along with volatility, Bitcoin trading volume has also dropped by nearly 50%. Therefore, as per Coinpedia, the next few days are highly crucial for the King currency Bitcoin.
