Kraken: B centyabpe doxodnto bitkyne will be low

In its volatility report for August 2020, the American cryptocurrency exchange Kraken predicts that September will bring excessivenegative margin for bitcoin (BTC).

In particular, it is noted that the historicalis the worst month for bitcoin with an average density of -7%. Since over the greater part of 2020, bitcoin has not reached its average yield, the results of this month are likely to be even worse than usual.

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In spite of the short-term forecastIn the documentary note, there are glimpses once for the recovery of the height, since most of the coins did not move more than 12 months. Kraken points out that "the historians of this dynamics herald a new bull market."

The dossier adds that, probably, bitcoinwill experience sharp vibrations as the markets move away from the local July minimum. Last year, the annual bitcoin volatility was twelve times higher than the bottom between 15% and 30%, before it increased to 140% and after 94 days it reached + 196%. At the end of August, from the moment of a minimum volatility of 2Z%, set on July 24, it was 8 days later, at this the volatility grew to 44%, and the price increased by 25%.

“So, history shows that we can have ample capacity for more high volatility and growth in the nearest months,” - this is the conclusion.

The Kraken team also notes that SeptemberHistorically, it was characterized by the very low volatility, indicating that BTC can maintain this level at least until the fourth quarter of 2020.

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In addition, the report notes that in addition, the correlation of bitcoin with gold has reached a new historical maximum of 0.97, then you will need to add 0.25.

For most of August, Bitcoin alsodemonstrated a high correlation with the S&amp;P 500. After establishing a local top at 0.84, the correlation between BTC and the S&amp;P 500 fell to minus 0.02, which indicates that the It can break away from the meta-trend of traditional markets.

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