Bitcoin might experience more risk and setbacks if this chart pattern is right BTC Crypto $BTC
, may be bracing for a volatility spike and a lurch lower. In recent months, Bitcoin — which is well known for its volatility — has been relatively calm, oscillating in a rather narrow range around the $20,000 level after it touched lows of $17,600 in June., the Bollinger Bandwidth, a potentially ominous signal, has now shrunk to its narrowest since 2020. The bandwidth in a Bollinger analysis, a common method of determining volatility, is the distance between the upper and lower bands.
As a result, some analysts see the narrow Bollinger Bandwidth as a sign that Bitcoin price volatility might spike and, thus, reduce its price.A nearly 60% decline in the price of Bitcoin this year resulted from a global wave of monetary tightening to combat inflation. Since touching a $3 trillion peak in November 2021, cryptocurrencies have lost around $2 trillion, which has forced regulators to tighten control.Additionally, the world markets are anticipating Thursday's U.S. inflation data.
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