Bitcoin Volatility Index Has Recently Been Below A Value Of 25
As pointed out by an economist on , the volatility index has declined into a zone that has historically been followed by an explosive move in BTC.The “volatility index” in question is the BitMEX index, and according to the exchange, the metric’s value “is the rolling 30 day annualized volatility of the daily 11:30 UTC to 12:00 UTC Time Weighted Average Price (TWAP) of Bitcoin / USD.”
The value of the metric seems to have been quite low in recent days | Source:As you can see in the graph, the analyst has marked relevant points of trend between the Bitcoin volatility index and the price of the crypto.
If the same trend as during the previous instances follows now as well, then the crypto might be heading towards another big move in the near future.
BTC Price
At the time of writing, Bitcoin’s price floats around $19.4k, up 1% in the last seven days. Over the past month, the crypto has lost 9% in value.
The below chart shows the trend in the price of the coin over the last five days.Looks like the value of the crypto has mostly been moving sideways during the last few days | Source:
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com