The reasons for the stability of Bitcoin⚙on!!!

The reasons for the stability of Bitcoin⚙on!!!

The volatility of the exchange rate of the cryptocurrency Bitcoin has reached the lowest level in 17 months. This situation is unusual for the blockchain industry, and therefore puzzling many investors. To understand this question we have considered possible reasons for the stability of BTC.

According to technical indicators over the last month has not formed any strong trends, in one chart there are line of the bearish or bullish trend. A similar situation arose in June of this year when the Bitcoin exchange rate increased sharply, from $5,900 to $8,200, if you follow the analogy, after a period of "stagnation" needs to occur is a rising trend.

The founder of the financial consultancy company DeVere Group, Nigel green, said: "the Low level of volatility indicates market maturity".

In October, Bitcoin celebrates its 10th birthday, so the word green on the maturity of the market is not devoid of common sense. Financial strategist firm Bloomberg Mike McGlone believes that volatility will continue to decline with the development of the market, as it will increase the number of users of BTC and the amount of cryptocurrency investment products.

The President of the Foundation ProChain Capital Lavid Taweel says: "the bulk buyers of Bitcoin do long-term investment in cryptocurrency for a few years, they are not interested in short-term investments, so volatility has been reduced."

The Director of research of D. A. Davidson & Co, Gil Luria, said the decline in speculative trading of Bitcoin. In the past year, a significant increase in trading volume of BTC was largely due to the activity.Ulyanov who wanted to quickly hit the jackpot and leave the cryptocurrency market. According to him, volatility and trading volume represent two sides of the same coin: when come to the market speculators, a significant increase in the trading volume and the volatility of the exchange rate.

Analyst at TF Global Markets Hiring Aslam called the current situation on the market of Bitcoin "capitulation." But let's think straight: a stable exchange rate of the cryptocurrency is more profitable, than the eternal swing up and down, for companies that accept Bitcoin as payment. This benefits the entire kriptonyte in General, as it gives at least some confidence in the future!

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