The host and anonymous cryptocurrency analyst of YouTube channel InvestAnswers revealed a crucial volatility indicator pointing to a potential significant bull run for Bitcoin (BTC).
The indicator has successfully predicted six previous bull runs and has never been wrong. The analyst believes this signals a major price surge for BTC in the near future.
Bitcoin’s Volatility at Historic Low, Analyst Predicts Bull Market
The anonymous host and cryptocurrency analyst of YouTube channel InvestAnswers highlighted a graph from Glassnode, a crypto data company, indicating that Bitcoin’s volatility is currently at its second lowest level ever recorded. Based on historical data, the analyst suggests that this low volatility could signal the start of a new bull market for Bitcoin.
The analyst emphasizes that Bitcoin’s current low volatility suggests a profitable period of patience for investors. Those who weather this phase with patience can expect to achieve significant gains.
Bitcoin’s Low Volatility Historically Led to Substantial Price Increases
The analyst highlighted previous instances of low volatility in Bitcoin, noting that they were consistently followed by significant price surges. Notable examples include the cryptocurrency’s jump from $3,000 to $20,000 in 2017, as well as low volatility periods in May 2016, April 2019, February 2013, and November 2020, all of which were followed by substantial price increases.
At the moment, Bitcoin is trading just above $29,000, showing a slight 1.44% decrease in the last 24 hours. Over the past seven days, BTC has lost 1.35% of its value, and in the last 30 days, it has experienced a decline of over 5%.
While some market analysts anticipate a sharp decline, the anonymous host of InvestAnswers holds a different view, believing that these declines could pave the way for a significant price surge due to the low volatility in Bitcoin.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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