Bitcoin Volatility – The Calm before the Storm – Altcoins DirectionlessSeptember 11, 2019
Bitcoin volatility reached the lowest level in over four months. Bitcoin has been suffering due to relative stagnation over the past weeks, and the measure of volatility went down to its lowest in nearly four months.
The 30-day volatility of the digital currency was calculated by making use of the price data from different exchanges, and it touched 53.5%
David Martin, “So far in September, bitcoin’s price has continued the consolidation and range-bound nature that was kicked off early August.”
The relative slowdown in volatility has been attributed to the calm before the storm.
Joe DiPasquale, CEO of cryptocurrency fund of hedge funds when discussing the bullish trend, stated, “bodes well for future valuations.”
Bitcoin is currently stuck in the consolidation phase. To draw, newer interest from retail investors and to experience strong price appreciation, the digital currency would have to break out of the phase.
Breez is now facilitating you to buy Bitcoin with your credit card. Breez is more than a wallet. It is a lightning payment service which focuses on providing a holistic experience. Breez facilitates to take the lightning technology and infrastructure to expose it in a lesson, which regular folks will be able to use without compromising on the Bitcoin values.
However, developers are continuing to iron out security issues related to this wallet. Breez does not ask for personal information for monthly purchases of up to $150 Euro; however, it requires that you prove your identity information in compliance with KYC norms to outlaw money laundering and criminal laws.
There was a transfer of 94,504 Bitcoins, and it is not clear as to who manned the transaction. When it comes to Bitcoin terms, this is not the most significant transaction, but when it comes to conversion to fiat, the value is notable indeed.
It is a mixed picture in the cryptocurrency market. Bearish bias and range-bound trading are prevalent in the market. Several altcoins are directionless. Some analysts opine that Binance Coin would decline by 40% due to the current uncertainty around the market. Investors are not willing to invest in exotic unregulated jurisdictions. When investors are not able to sell their tokens, then it becomes worthless. Investors are not interested in getting caught with heavy bags, eventually dumping the altcoins more in favor of regulatory friendly Bitcoin and Litecoin. The trends are mixed. Whether alts will resume or Bitcoin will dominate is for time to tell.