Bitcoin Steady Above $9.2K as ‘Volatility Collapse’ Predicts Big Move
William Suberg's original article for cointelegraph.com reduced by 43%
Bitcoin continued its downtrend on Nov. 7, barely keeping support above $9,200 as market commentators stay realistic about the future. "Much bigger" BTC price move could come this week.
The week's behavior continues a broader trend which Cointelegraph reported on previously - Bitcoin remains range-bound between $9,000 and $9,500. "Recent price action has choppy, quiet and sideways. This 'collapse in volatility' suggests a much bigger price move is right over the horizon-maybe yet this week," he summarized on Wednesday.
For regular Cointelegraph contributor Michaël van de Poppe meanwhile, Bitcoin appears to be in a similar position to 2016, just before markets began a breakout to all-time highs of $20,000. For him, Bitcoin hitting nearly $14,000 earlier this year followed by a consolidation period means that next in line is an uptick. Ether, the largest altcoin by market cap, lost $190 support after performing strongly through the week.
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CN [too long; didn’t read]
Summarised crypto news.