Bitcoin Investors, Anticipate a ‘Calm Before the Rampage’ – InvestAnswers’ Bullish Prediction Signals Massive Surge, August 2023
One indicator, in the opinion of a well-known crypto analyst, may indicate that Bitcoin (BTC) is ready to embark on a significant bull run.
The anonymous host of InvestAnswers explains to his 446,000 YouTube subscribers while pointing to a chart from the crypto analytics firm Glassnode that given Bitcoin’s low volatility, it is a good moment for traders to be patient with their investments.
“Low volatility is a sign of a bull market, believe it or not. And BTC has a history of going on massive runs almost every single time after a period of low volatility. And in fact, Bitcoin’s current level of volatility is the second-lowest ever on record. The only time it was lower was back in 2017…
The last time this happened was right before the bull run started that took Bitcoin up to $20,000. We watched it go very quickly from $3,000 to $20,000.”
Source: Invest Answers/YouTube
The researcher also points out that earlier times of minimal volatility preceded price hikes in May 2016, April 2019, February 2013, and November 2020.
The analyst claims that BTC’s recent slight price fluctuation is evidence of its low volatility. At the time of writing, the price of one bitcoin is $29,193. According to market capitalization, the top-ranked cryptocurrency asset has lost 0.17% over the past day, 0.91% over the past week, and almost 6% over the past 30 days.
