Hear what multiple experts are saying
Bitcoin’s Low Volatility Signals Bottoming
“Given this bear market is now 10 months old and is getting tired, I’d be inclined to be bullish for the next major move.”
Charlie Morris
CNBC’s Ran Neuner Claims Bitcoin’s Price Is Set To “Explode”
While Tommy Lee has said:
"Bitcoin is preparing to break out. It has found support around the $6,000 level, which equals the breakeven for mining costs."
Another expert ShapeShift CEO Erik Voorhees has said:
" Since June, the crypto market has been engaged in a bottoming-out process, "
and Cointelegraph author Helen Partz has said:
"Bitcoin has been trading sideways for around 10 days, following solid growth that took place on Oct. 15." .
As we know prices usually break out or break down after a period of low volatility.
Finally, it's Cointelegraph's Rakesh Upadhyay assessment:
The crypto markets have been consolidating in a small range for the past few weeks. Investors who are currently sitting on the sidelines avoid entering a range bound market, and the volumes have dropped. We expect buying to start after the prices break out of their ranges and a new uptrend begins.
Charts by Tradingview
Keep your eyes peeled as volatility is expected to increase in the next few days.
Disclosure: Author hold no Bitcoin at time of writing
Smiling Duck