Bitcoin (Bitcoin) delivered more flat BTC price action on December 25th, which prevented Santa from rallying for Christmas 2023.
Bitcoin Volatility Index Hits Record Low
data from Cointelegraph Market Pro When TradingView It showed that BTC/USD is sticking to a tight trading range around $16,800.
The currency pair has stubbornly refused to offer any form of volatility for much of the week, and the lack of macro triggers bolstered its lackluster performance.
“Bitcoin volatility is at an all-time low,” says William Clemente, founder of crypto research firm Reflexibility. I got it Alongside the Bitcoin Historical Volatility Index chart.
He added that total cryptocurrency market capitalization has regained all of its gains from its 2017 highs and is now testing those highs as support.
Meanwhile, trader and analyst Phoenix Remarkable The parallel to Christmas 2018 comes just after Bitcoin’s last bear market in the last halving.
The lengths between his record highs and Christmas lows a year later were about the same, at 117 bars and 137 candlesticks respectively in 2018 and 2022 on the 3-day chart.
Coming to Q1 is the worst?
Looking ahead, another popular analytics account, Bagy, released similarly uninspiring news for Hodler heading into 2023.
Related: Christmas Dinner Table: What To Tell Your Family About What Happened With Cryptocurrency This Year
next year he weatherBTC/USD fails to break above $25,000, with the actual recovery coming in 2024, the halving year.
Even less optimistic is analyst Toni Guinea, who said on Christmas Eve that his hypothesis The next quarter will produce the next bear market trough.
However, this leaves room for a final sprint towards $19,000 in the final week of the year.
“Last bull trap in December-January at 17.5-19k. Last crash to 11-14k in Q1 2023,” he said. predicted.
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