RATE Group | Another Measure of Bitcoin Price Volatility Hits 15-Month Low
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Another Measure of Bitcoin Price Volatility Hits 15-Month Low

08 Oct Another Measure of Bitcoin Price Volatility Hits 15-Month Low

Posted at 11:42h in Bitcoin News by

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Bitcoin price volatility continues to drop, with one measure having reached a 15-month low.

Weekly volatility, as calculated by the difference between the high and low, fell to $317 last week – the lowest reading since the first week of July 2017 – according to Bitfinex data.

More importantly, the leading cryptocurrency witnessed a trading range of $498 and $741 in the previous two weeks. The data indicate that BTC is being squeezed in a narrowing price range and as per technical rules, a decisive move is overdue.

Other measures of bitcoin price volatility are also echoing similar sentiments. For instance, Bollinger bandwidth reading fell to the lowest level since December 2016 last week.

That said, both bulls and the bears continue to remain on the sidelines, offering very little directional bias to the cryptocurrency.

At press time, BTC is changing hands at $6,600 on Bitfinex, representing just 0.15 percent gain on a 24-hour basis.

Weekly chart

BTC defended $6,100 and…

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