Bitcoin Low Volatility Means Get Ready

Contents

Bitcoin is preparing for a round of volatility in the IV quarter

Bitcoin is preparing for a round of volatility in the IV quarter
CONTENT

  • Bitcoin prepares for a new quarter of increased volatility

  • Analysts have identified key events to follow until November

  • September has traditionally turned negative month for bitcoin

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The largest cryptocurrency by market capitalization returns to its previous value on the eve of a new round of volatility

Bitcoin is likely to see a sharp rise in volatility in the new quarter.

Bitcoin is preparing for a round of volatility in the IV quarter

This is the conclusion reached by the experts of the analytical department of Kraken Intelligence.

Bitcoin is preparing for a round of volatility in the IV quarter

According to the September report, bitcoin traditionally crashed in September, as it did a year earlier, when bitcoin plummeted from $ 10,592 to $ 7,869..

Source: coinmarketcap.com

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Analysts expect the price of bitcoin to rise by an average of + 11%. It is noteworthy that over the past nine months, six of them bitcoin showed negative dynamics:

“Given that Bitcoin is emerging from the least volatile month of the year … we should prepare for the emergence of additional price volatility in the IV quarter of 2020”, – the report says..

Kraken Intelligence also identified the main events that should be monitored to draw up a medium-term cryptocurrency trading model:

  • October 29, 2020: Q3 2020 US GDP Report
  • October 29, 2020: ECB Key Rate Decision
  • October 2020: FATF Summit to Discuss International Coordination on Travel Rule Compliance;
  • November 2, 2020: CME Bitcoin Futures Settlement Day;
  • November 3, 2020: US Presidential Election;
  • November 15, 2020: Bitcoin ABC Team Will Update BCH.

Catalyst search

Previously BeInCrypto editors wrote, which, according to Charles Edwards, history points to the growth potential of cryptocurrency ahead of the presidential election. After the determination of the head of the United States in 2012 and 2016, the bitcoin rate also continued to grow.

Bitcoin is preparing for a round of volatility in the IV quarter

At the same time, analyst Lark Davis drew attention to the high level of correlation of bitcoin with the S index&P500, which usually goes into decline amid US presidential elections.

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So far, interest in Bitcoin leaves much to be desired. Google Trends data shows that interest in Bitcoin and the decentralized finance segment is rapidly dying out. So, for example, in the first week of September, the popularity of bitcoin in Google searches was 51/100. During the period of excitement around bitcoin halving, the same indicator reached 100.

On moment of writing BTC / USDT price is $ 11,450.

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