Bitcoin volatility drops to stablecoins

According to cryptocurrency trader Josh Rager, Bitcoin's historical volatility is on the brinkfalls below 40. Based on the price movement of the coin, most likely, this indicates that the rally is not far off.

«BTC volatility at this low has historically resulted in significant price movements ranging from 30% to 60% in subsequent weeks.

From the current price, a 30% increase is $12,200, a 30% decrease is $6,500. Fasten your seat belts.

Bitcoin historical volatility (HV) nearing $ 40 BTC volatility this low has historically led to major price action between 30% to 60% movement in the following weeks

From current price:
30% move to the upside is $12,200
30% move to the downside is $6,500

Put your seatbelt on pic.twitter.com/ERzWudn547

- Josh Rager? (@Josh_Rager) July 12, 2020

CoinCorner CEO Danny Scottclaims that due to an unprecedented price movement, bitcoin is gradually turning into stablecoin. Over the past 30 days, the average volatility of bitcoin has fallen to 1.57%, and over the past 3 months, it has come close to stablecoins.

#Bitcoin volatility these last 3 months feels like it’s heading towards stablecoin status.

30 day average = 1.57% pic.twitter.com/5IVvaO47Ic

- Danny Scott (@CoinCornerDanny) July 12, 2020

As Rager notes, something similar happened inearly March, when BTC corrected more than 60% in three weeks after its volatility fell below 40. The same thing happened in November 2018, when in December BTC fell to its multi-year low of $ 3100.

It is worth noting that both of the above massprice drops were accompanied by adverse events (the Bitcoin Cash hard fork and the global Covid-19 epidemic). Consequently, the low volatility band of bitcoin is not necessarily good news for bears.

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At the end of March, when Bitcoin was at annual lows for several weeks, its volatility dropped to 20, followed by a 32% move.

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