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Indicator Signals Possible Explosion of Positive Bitcoin Volatility

BTC traders may be in for another run past the $$ 100K milestone, according to Bollinger Band analysis

Wagner Riggs

Dec 12, 2024 4:45 PM


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A Bollinger band indicator, a tool used to assess imminent changes in financial market instability, is signaling a potential explosion of volatility in the price of Bitcoin.

Therefore, BTC traders may be in for another run past the $$ 100K milestone, as this Bitcoin indicator reflects the positivity from early November that foreshadowed a 40% price explosion.

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According to data from Coindesk, the indicator is at a level not seen since November 4, the day before the US elections. The largest cryptocurrency subsequently rose to $$ 100K from $$ 70K in four weeks.

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Indicator Signals Possible Explosion of Positive Bitcoin Volatility

BTC Traders Could Be in for Another Ride Past the $100K Milestone, According to Bollinger Band Analysis

Wagner Riggs

Dec 12, 2024 4:45 PM


Shutterstock

A Bollinger band indicator, a tool used to assess imminent changes in financial market instability, is signaling a potential explosion of volatility in the price of Bitcoin.

BTC traders could therefore be in for another ride past the $100K milestone, as this Bitcoin indicator reflects early November positivity that foreshadowed a 40% price explosion.

Advertisement

According to Coindesk data, the indicator is at a level not seen since Nov. 4, the day before the U.S. election. The largest cryptocurrency subsequently surged to $100,000 from $70,000 in four weeks.

$BTC

#BURNGMT very good

Bitcoin's 'wild' probability indicates 85% chance of BTC price surpassing US$ 100 by the new year

Bitcoin forecasts easily favor a six-figure price for BTC by early 2025, but selling pressure continues to build.



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Bitcoin BTCR$580,353 could end the year at US$ 125,000 or more, prediction markets say, as bulls keep pressure on six figures.
Data from betting platform Kalshi suggests an 85% chance of the BTC price reaching US$ 100,000 before the end of 2024.

BTC Price Faces 'Wild' Prediction of US$ 127,000

Bitcoin may not have yet reached the $$ 100,000 mark, but the consensus is overwhelmingly that it is a matter of “when”, not “if”.
According to Kalshi's live numbers, the odds of BTC/USD being at US$ 100,000 or higher on December 31 currently stand at 85%.
There is even a 9% chance that the pair will reach US$ 150,000 in that time, plus an outside bet of US$ 250,000 or more.
In total, Kalshi's median forecast sees a BTC price of US$ 125,000 becoming reality by the new year.
"It appears that prediction markets are starting to price in a potential explosive rally above US$ 100,000," replied trading resource The Kobeissi Letter on X, calling the numbers "wild."
Kobeissi noted that Bitcoin's market value could reach US$ 2.5 trillion by

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$ETH

Ether price faces correction before rising to $20,000 in 2025, analysts say

Analysts point to a possible upper cycle of US$20,000 for the price of Ether, with expectations of gaining momentum in the first half of 2025.



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Ether price could see an imminent correction in the coming weeks before resuming a sustainable rally to new highs.
Ether ETH has risen more than 33% in the last month, trading above $3,368 at 10:23 UTC on November 23, as per data from Cointelegraph.

ETH/USD, 1-month chart. Source: Cointelegraph
Despite gaining ground, the world's second-largest cryptocurrency could be about to undergo a price correction once Bitcoin BTC surpasses the historic $100,000 mark — widely expected to occur before the end of November.
Bitcoin's next big pullback should trigger a short-term correction for Ether, according to Gracy Chen, CEO of Bitget.
Chen told Cointelegraph:

“The market is already oversold, and a healthy correction could occur… While Ethereum has not shown enough correlation following the Bitcoin surge, any potential pullback once BTC crosses the $100,000 mark could impact Ethereum.”