Since January of last year, the first volatility of bitcoin has decreased by 98%. So, if a 16 January 2018, this figure reached $3 468, a year later — only $61, CoinDesk Markets analyst Omkar Godbole.
Note that the daily volatility in the past year fell from 9.1% to 3.6%, although 16 December 2018 was approximately 26%.
In absolute terms the maximum daily volatility in the first quarter was $973, and in the following: $345, $245 and $195, respectively.
In early 2019, this rate also did not exceed $200, and on January 12 reached a minimum value of $45,17.
Godbole stressed that low volatility is evidence of the decline of speculative trading and approaching a sharp price movement.
In his opinion, bitcoin will soon leave the range of $3500-$3700 in favor of the bears. At the moment the first cryptocurrency was trading around $3590.
We will remind, earlier ForkLog published the traditional weekly analysis of prices of cryptocurrencies.