Advanced Market Analysis: Understanding Bitcoin Volatility

Advanced Market Analysis: Understanding Bitcoin Volatility

By: Eva Baxter

In the complex world of cryptocurrency, volatility is a major concern. One such instance can be seen in the current Bitcoin market scenario where, after reaching a series of all-time highs, Bitcoin fell to a week's low of $65,000. A plunge that reflects a dip of 5.6% over 24 hours and 4.5% over the week (source).

The decline not only affected Bitcoin but also impacted other altcoins like Ethereum (ETH) and Binance Coin (BNB), observing price losses up to 10%. Meme coins such as Dogecoin and Shiba Inu were not spared either, with even steeper declines registered. The resulting reaction caused market liquidations worth over $426 million, with Bitcoin alone facing over $104 worth of liquidations (source).

Market analysts like Markus Thielen, CEO of 10x Research, predict potential further downtrends, largely based on factors such as low trade volumes and liquidity. The possibility of Bitcoin plunging down to the $63,000 mark cannot be ruled out. As such, investors need advanced knowledge of market mechanism and volatility to make informed decisions.

Get In Touch

[email protected]

Follow Us

© BlockBriefly. All Rights Reserved.