The range of price fluctuations for bitcoin is currently at its lowest level in eight months.
Volatility in bitcoin has remained weak since mid-May. Now, this indicator is only 0.08 points – this is the minimum mark since October last year.
On Monday, June 22, the price of bitcoin has grown a bit, now it is in the region of $ 9445. In 24 hours, the cryptocurrency capitalization increased to $ 173.884 billion.
Analysts agree that such a long period of weak volatility in bitcoin precedes the storm. Moreover, BTC can both take off to a new maximum and collapse to lower values.
Over the past three months, the value of bitcoin has grown by more than 150%, and the conditions for asset correction have matured. The pullback is usually preceded by a long phase of weak volatility in bitcoin, which we now observe.
ByteTree founder Charlie Morris recently admitted that the largest cryptocurrency is likely to fall in price to $ 7,000. This will be a fair price for the lack of support from investors.
A similar point of view is held by the analyst and trader of the Amsterdam stock exchange Michael van de Popp. However, he is more optimistic.
On Twitter, the trader wrote that in the near future, Bitcoin will try to test values above $ 9600. If the coin does not receive sufficient support and rolls back to $ 9,200, then the next step will be the range from $ 8250 to $ 8500.