No products in the cart.
- Latest
- Trending
ADVERTISEMENT
Widely-accepted economist Alex Kruger says the indicator is flashing under the radar for historically significant increases in Bitcoin volatility (Bitcoin).
Kruger tells his 146,200 Twitter followers that he is keeping an eye on the Bitcoin Volatility Index (BVOL), which measures BTC’s volatility on a 30-day annualized basis using the Time Weighted Average Price (TWAP). .
According to Krger, closing prices below 25 for BVOL precede major moves historically.
Each time BVOL fell below 25, an explosive Bitcoin move quickly followed. Twice up and one down (Nov 2018).
Economists say Thursday’s Consumer Price Index (CPI) release could be the underlying catalyst for Bitcoin’s next wave of volatility in either direction. Come in This week is 8.1% year-on-year, so a large up or down reading could trigger volatility for BTC.
According to Krger, Bitcoin’s technicals look positive and BTC is about to break through the nearly year-old diagonal resistance line.
BTC looks good and everyone sees the same level.
Economists also point to a seemingly close correlation between crypto markets and equities these days. He shares a chart showing the correlation between Bitcoin and the Nasdaq.
This is unbelievable. Perhaps crypto traders should start hedging long on Nasdaq futures instead of ETH and BTC brokers.
At the time of writing, Bitcoin is trading at $19,413 and has been trading roughly flat for almost a month.
Don’t miss the beat apply To get encrypted email alerts delivered directly to your inbox
check price action
Please follow us twitter, Facebook When telegram
surfing The Daily Hodl Mix
 
Featured Image: Shutterstock/Ezakiell
