Analysts predict the beginning of bitcoin price growth.

[Paha87]

Bloomberg analysts have joined a number of experts who believe that low levels of bitcoin volatility (BTC) signal that the currency is finding its bottom.






Data analyzed by Bloomberg shows that in October, BTC had only one when its price changed by more than 5%; compared to nine such days in January and February, seven in March and five in July.

Bloomberg Intelligence analyst Mike McGlone believes that " the level of low volatility is a sign of speculation coming out of the market and, ultimately, the process of finding the bottom."

It is noteworthy that the decline in price fluctuations coincided with a significant devaluation of the coin during the relentless bear market: as of the time of printing, bitcoin is trading at $6'476, which is 52% less than $13'350 observed on January 1.

It is worth noting that Bloomberg analysts gave a positive assessment of the bitcoin price range, and McGlone noted that "high volatility is the main factor reducing the majority of cases of using cryptocurrency for anything but speculation."

Expert opinion
Charlie Morris, asset management Manager at the London-based Atlantic House Fund Management, agreed that the statistics simply say that "the crypto market is now calm and balanced," adding:

Given the bearish market, which is already 10 months old, I tend to bullish movement during the next big step.

Director General of Plutus crypto-application Daniel Deyhopan noted in an interview with Bloomberg that"the value created by emotional traders was washed away by the recent collapse of the price, and with it significant volatility." Low trading volumes seem to coincide with the observation Daychopan that "shopping euphoria has decreased in recent months."

Earlier this month, Spencer Bogart, an expert at Bankchain Capital, agreed that bitcoin is showing strong signs of a "bottom", anticipating a "future cryptocurrency explosion when we have the next bullish market."

Based on a technical analysis in June this year, futures broker bill Baruch made a similar comment, noting that "the bottom is a process, not a price. Now that the price and volatility of BTC have returned to earth, the process of growth can begin."

Link to the source of information (Russian) - https://altstake.io/news/analitiki-prognoziruet-nachalo-rosta-ceny-bitkoina