Popular analyst Vetle Lunde said that the leading cryptocurrency Bitcoin may experience extreme volatility in the near future.
Arcane analyst Lunde stated that the current volatility of Bitcoin is very low and historically it should not take much longer.
Popular Analyst Predicts Volatility for Bitcoin
The popular analyst thinks there will be great volatility in both directions in the coming period.
So far, the bulls have managed to hold the limit without letting Bitcoin drop below the $18,000 level. This solid support level is considered safe for now, although the bulls have not yet managed to push the asset’s value up.
Bitcoin rose in line with US stocks and managed to reclaim the $20,000 level. However, with the decline in stock market indices, Bitcoin also fell below the $20,000 level.
The drop in stocks after a sharp two-day rally has caused crypto prices to plummet.
Traders are currently waiting for the US Department of Labor to release nonfarm payroll figures. These figures, which will be announced, are important because they contain important clues for the Fed’s interest rate policy.
Markets expect the Fed to announce another 75 basis point rate hike next month.
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