Bitcoin Is Ready For An Explosive Move, Analysts Say
Important analysts are saying that Bitcoin has recently consolidated around $9,000, and the fact that this has been going on for more than a month it could end as Bitcoin’s volatility hits a critical level.
Analysts believe that Bitcoin is ready for a move upwards
The online publication mentions some important analysts who believe that it’s time for Bitcoin to move upwards.
Crypto analyst CryptoBirb told his followers that the king crypto is poised for a big move after trading in a narrow range for a month and a half.
— CRYPTO₿IRB (@crypto_birb) June 13, 2020
The same online publication also brought up crypto strategist Edward Morra who highlighted the fact that BTC’s volatility is back to the level it reached before it fell pretty bad back in March.
BTC Volatility nearing the 3M lows. We are back to 7th of March pre crash levels. Expecting “big moves” this upcoming week. Probably worth setting a straddle option set. #buyvolatility pic.twitter.com/StsptEAKj1
— Edward Morra (@edwardmorra_btc) June 14, 2020
Trader Cantering Clark is also mentioned by the online publication. His thoughts echo Edward Morra’s sentiments on Bitcoin’s volatility.
He said that BTC’s low volatility is setting the stage for an explosive move.
All I know is that with BTC realized & implied volatility this low, we are due for a big move in either direction that should have some follow-through for a nice amount of time.
— Cantering Clark (@CanteringClark) June 14, 2020
Experts have been expecting to see Bitcoin’s price exploding after the halving that took place back in May, but this hasn’t happened so far.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.