TR;DR Breakdown:
- Bitcoin volatility increases the price of Ethereum.
- Bullish run predicted for Bitcoin.
In less than a month, Bitcoin volatility hits its lowest levels as the price of Bitcoin is expected to fluctuate in the coming weeks. Since the start of the new year, the cryptocurrency has been unstable, reaching highs and lows in the crypto market.
As per data from CryptoHamster, Bitcoin volatility dropped amidst the correction price levels, from a $42000 increase. However, with the prolonged periods of low Bitcoin volatility, it is expected that a significant increase will follow the trend in the price of Bitcoin.
Bullish run predicted amidst low Bitcoin volatility levels
The cryptocurrency is set for a massive increase, according to TradingShot. The dominant trading corporation made this assertion after observing bullish signals from its 50-period moving average.
Analysts from the corporation noted that they are in massive support of Bitcoin’s rise in late 2020, predicting that Bitcoin will rise to a sustainable increase in February. If this prediction is successful, BTC could experience a bullish run above $40000 as its start-up point.
Also, the recent involvement of institutions in the crypto asset helps increase the lawfulness of the entire crypto market. Yesterday, a whopping 4000 BTC was bought by major institutions, showcasing that institutions are looking to profit from Bitcoin volatility.
Bitcoin volatility useful for Ethereum
Bitcoin’s price change has proven to be very useful for Ethereum‘s rise. In the early hours of today, the cryptocurrency hit an all-time high of $1430 due to the recent volatility in Bitcoin price, which almost reached $42000 then plunged to $30000 before recovering recently.
Bloomberg reported earlier that crypto enthusiasts are optimistic about the price of Bitcoin due to its recent stability, trading around $36000 in the past few days.
With Bitcoin volatility in view, famous trader Alex Kruger has disclosed that Ethereum will eventually rise above the $1500 mark and beyond. He further added that traders should watch the impending increase in Ethereum price as it is a great investor’s investment in cryptocurrency.
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