Bitcoins (BTC) price is in the range between $9,000 and $10,000 a third month in a row, and for the last few weeks is stuck in the range of $9,100 and $9,300, However, analysts await a massive spike in the BTC price.
Volatility of the first cryptocurrency reached minimalistic figures and the volume of trade has been reduced as well. As it seems, active investors await movement in the price in order to determine a trend. The daily volatility of Bitcoin hasn`t reached above 5% 24 days already. This is not the first instance of this happening and it always ended with a massive movement of the price.
A similar trend was registered for 27 days in the Spring of 2019 – it ended on April 1 when the Bitcoin price grew 31% in a month. Another 29 days of low volatility were registered in the Autumn of 2018 – the price after that plummeted by 48% in a month.
It must be noted that the amount of open positions on Bitcoin is steady from the beginning of June, although the are upward trends in the last weeks. As of right now, it nears $4 billion, which is also an indicator of a growing movement in the price.
