The cryptocurrency market has been experiencing low volatility for the past two months, but does that mean investors should just sit and wait?
Cryptocurrency markets are well-known for their volatility, where large price swings help investors create or lose fortunes. Yet there are often periods of relative stability where the tight price action bores some while being an opportunity for others.
Since the beginning of the year, Bitcoin’s (BTC) price has soared by over 60%, climbing from around $18,000 to over $27,000 at publishing time. However, the cryptocurrency has been stuck in a narrow range for the past two months, fluctuating between $26,000 and $29,000. It has occasionally attempted to break out above $30,000 but also faced some dips to $25,500.
According to CCData, Bitcoin’s volatility has dropped to 48.2% this year from 62.8% last year and from 79% in 2021. The cryptocurrency’s average daily change so far this year has been steady, with gains of 1.68% and losses of 1.93%.
/1 Latest CCData insights reveal $BTC volatility has dipped to 48.2% in 2023, from 62.8% in 2022 & 79.0% in 2021.
Its 2023 trading range also shows more stability, with an average 1.68% increase & a 1.93% decrease. pic.twitter.com/y0zBMA3kpU
— CCData (@CCData_io) May 23, 2023
Investors have a number of…
