Volatility Returns to Crypto Markets as Bitcoin Price Tumbles Again
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC/USD) has now given up virtually all of its gains since the beginning of the month, tumbling another 5% during the past 6h to a one-month low of $235 on BTC-e.
Combined with yesterday's losses, the price has shed over 11% during the past 30h.
During the peak of yesterday's selling, one noticed the price clinging on to $254 support, propped up by massive buy orders on the scale of 100-200 BTC. The markets chewed through these in minutes, releasing much pent up selling pressure when the bids were finally depleted.
In another sign of its return to Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, bitcoin has fallen convincingly through its 50-day moving average (MA). It first breached the mark--still rising and now caught moving in the wrong direction--one week ago, and again yesterday, during which it at least hovered within recovery range. Today's drop sends bitcoin a full 6% below the MA.
March and April were particularly volatile months in the crypto (and fiat equity) markets last year. It is not impossible that prices will accelerate their movements, catching margin traders who grew accustomed to the recent stability off guard.
Prices on BTC-e are nearly on par with those on its peers, currently about $0.50 (0.2%) off.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC/USD) has now given up virtually all of its gains since the beginning of the month, tumbling another 5% during the past 6h to a one-month low of $235 on BTC-e.
Combined with yesterday's losses, the price has shed over 11% during the past 30h.
During the peak of yesterday's selling, one noticed the price clinging on to $254 support, propped up by massive buy orders on the scale of 100-200 BTC. The markets chewed through these in minutes, releasing much pent up selling pressure when the bids were finally depleted.
In another sign of its return to Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, bitcoin has fallen convincingly through its 50-day moving average (MA). It first breached the mark--still rising and now caught moving in the wrong direction--one week ago, and again yesterday, during which it at least hovered within recovery range. Today's drop sends bitcoin a full 6% below the MA.
March and April were particularly volatile months in the crypto (and fiat equity) markets last year. It is not impossible that prices will accelerate their movements, catching margin traders who grew accustomed to the recent stability off guard.
Prices on BTC-e are nearly on par with those on its peers, currently about $0.50 (0.2%) off.