01 Nov Bitcoin price news: Cryptocurrency may be due POWERFUL move, Bollinger BandWidth suggest…
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Bitcoin price news: BTC could be due a ‘powerful move soon’ an expert has said (Image: GETTY)
Jesse Colombo, a registered investment advisor who warns about bubbles and future financial crises, was writing in Forbes magazine when he made the comments.
He said: “Ironically, in the financial markets, unusually low volatility often occurs before powerful, volatile moves – the ‘calm before the storm,’ so to speak.
“When Bitcoin finally breaks out of this pattern in a convincing manner, a significant move is likely to occur.”
He added: “Bitcoin volatility is at unusually low levels according to Bollinger BandWidth, which further confirms that a major move is likely to occur soon.”
READ MORE: Bitcoin could pave way for new financial order, expert predicts
Bitcoin is currently in a so-called “bearish” market, which means it is falling in value over time.
But a number of analysts are not ruling out a “bullish breakout” – an upsurge in value – within the…
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