Bitcoin Will Exceed $ 10,000 With Increased Volatility
Leading cryptocurrency Bitcoin (BTC) has embarked on a period in recent weeks in which volatility has receded to bottom levels after going through a fairly turbulent period and climbing above $ 10,000.
Stuck at between $ 9,200 and $ 9,500, BTC is also reducing its chances of making money, according to analysts, although on the one hand it shows volatility is easing and gives confidence. Although volatility is not always a positive outcome, one of the most prominent figures in the cryptocurrency sector says this is the factor that will bring bitcoin back up to $ 10,000 in the future.
Similar Scenario Appears In Bitcoin
The user, named Crypto Thies, pointed out that his moving average indicator pointed to volatility, after hinting that Bitcoin is getting better in terms of volume for the time being. The chart above underscores the time Bitcoin has seen its bottom at $ 7,300, with a drastic jump from the 0.618 Fibonacci level, bringing it to as high as $ 14,000, the analyst said.
Bitcoin is now drawing a similar chart, Crypto Thies said, indicating that a serious rise could come with volatility manifesting itself. Bitcoin also received another positive news from the Chinese front today, revealing that bitcoin mining will not be banned in the country.