Bitcoin Volatility is in the Critical Zone: Here is the 30-Day Price Forecast
Bitcoin (BTC) may break out of the price range it has been in for a few days and start gaining value.
Swan Bitcoin's chief investment officer, Rapha Zagury, announced that the volatility in Bitcoin has entered the critical zone.
Entered the 6 percent region
Rapha Zagury said that Bitcoin's volatility level within the 15-day period decreased to 23%. This falls within the 6% bottom in Bitcoin's history.
Bitcoin price started to decline last Friday and fell below $70,000. According to CoinGecko data, Bitcoin entered the week between $ 69,000-70,000.
US non-farm employment data, one of the most important indicators for the Fed's interest rate cut decision, was announced last week. Employment in non-agricultural sectors increased by 272 thousand people in May, above expectations.
30-day price prediction
Zagury examined periods when the volatility level in Bitcoin was at or below the current level.
Evaluating the 30, 90 and 365-day periods after these periods, the name revealed that Bitcoin tends to gain value after periods of low volatility.
Accordingly, the Bitcoin price increases by an average of 20.95% in the 30 days after these periods. 56.82% average over the 90-day period; In the 365-day period, it gains an average of 820.82% in value.