Volatility may soon return to the crypto markets.
Indicators early suggest that extreme price changes in the price of Bitcoin will return. The narrowing in the upper and lower bounds of the Trading Envelope channel is in its narrowest phase since mid-September. Then, after a similar indication, the price of Bitcoin fell by 12% on September 24th.
In addition, Bitcoin has closed below its opening price for the last six of seven trading sessions. The last time this pattern was repeated in mid-September, the price dropped 20% in a week.
At this point, the price is holding around $ 8,000 amid negative news that has weighed in on other digital currencies. Companies like Visa have withdrawn from the Libra project on Facebook due to security concerns and pressure from the US government. This week, Mark Zuckerberg will once again defend Libra before Congress.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.