Bitcoin price news – Bitcoin’s volatility hits lowest level in nearly two years | Person…

The leading cryptocurrency has faced consistent lows of late, plunging to below $6,000 (£4,588.80) in August.

The lows have struck since the end of June and have caused investors to hold off due to lack of a strong direction for the currency.

As a result, volatility represented by Bollinger Bands Width has reached its lowest level since December 2016.

Bollinger Bands Width is a tool that uses standard deviations to track a price’s moving average.

The tool is a technical analysis indicator derived from the standard Bollinger Bands indicator.

Bollinger Bands are a volatility indicator. It creates a band of three lines which are plotted on a graph in relation to a currency’s price.

Coindesk notes that when measured by a standard deviation across all exchanges, Bitcoin’s volatility is at its lowest since July 2017.

What is volatility?

Volatility is a statistical measurement of the dissipation of returns for a chosen market index, in this case, Bitcoin.

Volatility is measured either using…