Bitcoin
BTC$17 036.85

0.07%

Ethereum
ETH$1 263.24

-0.10%

Tether
USDT$1.000067

0%

Binance Coin
BNB$288.85

-0.25%

USD Coin
USDC$0.999980

0.01%

Binance USD
BUSD$0.999875

-0.03%

Bitcoin's extremely low volatility


03 Oct 2022

#Bitcoin

Bitcoin is up 2.5% over the past seven days, trading at $19,300 on Monday morning. Ethereum added 0.2%, to $1300. Other leading altcoins in the top 10 have shown mixed dynamics, ranging from an 8% decline (XRP) to a 4% rise (BNB). Total cryptocurrency market capitalisation, according to CoinMarketCap, rose 0.5% over the week to $930bn. The cryptocurrency Fear & Greed Index is at 24 by Monday versus 21 a week earlier.

Bitcoin's sluggishness

Bitcoin was able to keep from falling last week despite notable declines in stock indices and a Fed rate hike but lacked the strength to rise. The first cryptocurrency's fluctuation waves are getting smaller and smaller, approaching ripple levels. In such a lull, significant order volumes tend to pull closer to the price, the triggering of which can break the current trend. The lower boundary of the indecision range remained at $18.8K. However, the upper bound has shifted to 20.3, where several local highs since September 14 and the 50-day moving average are concentrated.

Bitcoin posted a moderate decline (-3.8%) in September, contrasted with a sharp fall of more than 9% in the S&P 500 Index. Unlike the stock index, BTC was able to hold its June lows.

In terms of seasonality, October is considered one of the best months of the year. Bitcoin has ended this month up six times in the last seven years. The average growth over the previous 11 years has been 33%, and the average decline has been 15%.

Bitcoin is up 2.5% over the past seven days, trading at $19,300 on Monday morning

News background

According to Galaxy Digital CEO Mike Novogratz, bitcoin's resilience in September is since most sellers have left the crypto market, having sold off their assets. The ECB has published the first results of its Digital Euro Survey, which suggests that the broadest use of CBDC will be in the retail sector.

German telecoms giant Deutsche Telekom launched its Ethereum transaction validation node to support stacking on the second cryptocurrency's network.

Spain's largest telecommunications company Telefonica has allowed customers of its online shop to pay for purchases with digital assets. BlackRock has applied to launch an exchange-traded fund (ETF) for metaverse-related companies.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 87.6% 17 $17 036.85 0.07% 0.92% $327 556 756 832 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 85.6% 28 $1 263.24 -0.10% -0.28% $154 587 986 288 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000067 0% 0.03% $65 689 611 763 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 76.8% 44 $288.85 -0.25% -2.64% $46 207 469 148 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $0.999980 0.01% 0% $43 034 408 184 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $0.999875 -0.03% 0.01% $22 097 327 307 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 84.8% 29 $0.385676 0.09% -4.09% $19 384 234 023 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 64% 73 $0.099825 -2.40% -6.11% $13 243 856 158 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 82.4% 30 $0.317492 -0.81% 1.31% $10 940 552 708 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 94% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 75.2% 52 $0.910821 -0.40% 5.98% $7 955 397 260 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 77.2% 37 $5.47 -0.50% 1.57% $6 265 062 095 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 95.6% 1 $0.999729 0.04% 0% $5 876 957 032 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 59.2% 85 $79.31 -2.60% 1.08% $5 692 408 178 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 82.8% 30 $0.053505 0.53% -0.76% $5 440 190 613 WTRX 7 days price change

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