Cryptocurrencies
Bitcoin Volatility Set for Comeback After Trading Turned Boring
- Trading Envelope is at its narrowest since mid-September
- Bitcoin hovers around $8,000 as attention turns to Libra
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Volatility could soon be back in vogue for Bitcoin.
One technical gauge is showing dramatic price swings for the digital token may be primed for a return: the difference between Bitcoin’s upper and lower band in the Trading Envelope indicator is at its narrowest since mid-September. The gauge smooths moving averages to map out higher and lower limits and a similar narrowing last month preceded a drop of more than 12% for Bitcoin on Sept. 24.