What Bitcoin’s Extreme Volatility Says About Its Skyrocketing Interest In 2020

What Bitcoin’s Extreme Volatility Says About Its Skyrocketing Interest In 2020
фото показано с : zycrypto.com

2020-3-24 20:17

Bitcoin (BTC) has experienced significant volatility lately, which has made its price rather unpredictable. More recently, the price has crashed to an unprecedented level alongside the stock market. Despite the uncertainty and the volatility, Galaxy Digital CEO Michael Novogratz says 2020 could be Bitcoin’s year. In a tweet, he said the volatility may be massive but “the macro backdrop is WHY it was created”.

Novogratz has been a Bitcoin bull for as long as anyone in the crypto space can remember. His firm, Galaxy Digital bridges the gap between the cryptocurrency world and mainstream institutional investors.

This plays a major role in bringing such investors into the space to encourage adoption, especially for Bitcoin. So far, there has been an increasing interest in Bitcoin and the drive has not slowed down which may be the reason behind Novogratz’s confidence in the asset.

Recent statistics reveal that there is a rising interest in Bitcoin as shown by searches on both global search engine Google and Chinese dominant search engine Baidu. Looking at Baidu’s search statistics, the number of searches for Bitcoin has increased by 183% in the last 30 days both on computer web browsers and on mobile devices. This may suggest that Bitcoin is gaining popularity as a store of value as stocks have crashed.

However, according to crypto analyst Josh Rager, Bitcoin has not yet decoupled from the stock market yet and its price movements still strongly depend on the stock market. This may invalidate the argument that Bitcoin is a better investment at this time, but the rising interest may be pointing to hope as more investors get into the crypto space.

Bitcoin bull Tim Draper has also said that Bitcoin is still a better investment despite the volatility. In a chat with Inc42, Draper said the stock market crash is a perfect time for Bitcoin to emerge as a better option for both storing value and spending money. According to Coin Market Cap, Bitcoin currently trades at $6,320 and has lost 7% in the last 24 hours and movement has mostly been sideways in the last 24 hours.

origin »

Bitcoin (BTC) на Currencies.ru

$ 93965.69 (-0.77%)
Объем 24H $52.578b
Изменеия 24h: 0.26 %, 7d: -4.98 %
Cегодня L: $91951.2 - H: $95752.95
Капитализация $1860.881b Rank 1
Цена в час новости $ 6539.27 (1336.94%)

price volatility bitcoin rather unpredictable crashed unprecedented

Источник: zycrypto.com

price volatility → Результатов: 126


Bitcoin’s surge improves price volatility, its probability of breaking ATH

Days after Deribit exchange launched Bitcoin June 2020 Options and placed a probability of only 4 percent on it crossing its all-time high before 20 June, Bitcoin changed the entire plot. 25 October recorded one of the largest surges of 2019 after Bitcoin massively pumped by over 35 percent over 10 hours to take the […] The post Bitcoin’s surge improves price volatility, its probability of breaking ATH appeared first on AMBCrypto.

2019-10-28 10:57


Institutions’ Long Position on Bitcoin Doubles, BTC Futures Surpasses the Spot Volume by 18 Times

It’s been a month now that Bitcoin's price has been boring, hovering around $8,000. As such, volatility has dropped below 2%. However, volatility might make a comeback soon as the difference between the upper and lower band in the Trading Envelope indicator gets to its narrowest since mid-September. A similar narrowing was seen last month […]

2019-10-23 16:03


Фото:

After 3 weeks of stagnation, traders say Bitcoin poised to see big volatility

Following three weeks of stagnation, technical analysts anticipate the bitcoin price to see large volatility in the short term as it looks to test important levels. Cryptocurrency trader Josh Rager said: “With three weeks of sideways and the Bollinger Bands starting to pinch, Bitcoin price could see some volatility soon Good news is that the […] The post After 3 weeks of stagnation, traders say Bitcoin poised to see big volatility appeared first on CryptoSlate.

2019-10-14 14:33


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Addresses Drop by 211K Amid Market Uncertainty: Could a Rally Be Next?

Wallets holding Bitcoin are now declining in number, while those that hold the meme-based Dogecoin appear to be increasing in number. Bitcoin’s ecosystem is experiencing waves of doubt. According to fresh data from analytics company Santiment, there has been a decline of more than 211,000 non-empty Bitcoin addresses in three weeks alone, which has sparked […]