Bitcoin and Ether now less volatile than oil: Report

After 3 months of low volatility, the cost of BTC broke out and developed new highs before running into resistance once again and seeing a sideways movement.Historical BTC price momentum after low volatility. Source: XThe expert concluded that Bitcoins rate leaps out of lows after a period of low volatility to form an initially high, followed by another second high, while a 3rd one is made against the crucial resistance.

The Bitcoin (BTC) and Ether (ETH) 90-day price volatility struck a new multi-year low in August as the leading 2 cryptocurrencies continue to trade under their crucial resistance of $30,000 and $2,000, respectively.According to data shared by crypto analytic company Kaiko, the 90-day volatility of BTC and ETH hit 35% and 37%, respectively, making it less unstable than oil, with volatility of 41%. Such a decline in the cost momentum of the leading 2 crypto possessions was last seen in 2016.90-day cost volatility of Bitcoin, Ether and oil. Source: KaikoThe chart above shows that BTCs and ETHs cost volatility is over half than at the very same time last year. While August is considered a bullish month for the crypto environment, the decreasing price change is thought about bullish by many.Apart from the 90-day volatility at its most affordable in 7 years, the everyday Bitcoin volatility is likewise at a five-year low. Bitcoin daily volatility reaches 5-year low. Source: TradingViewA Bitcoin technical analyst who goes by the social networks name of “CryptoCon” took to the X platform to share observations about Bitcoins rate volatility decline and what actually follows the duration of low volatility. Related: Bitcoin speculators now own the least BTC since $69K all-time highsThe technical analyst kept in mind that Bitcoins rate went through a similar cycle of low rate volatility in 2020 before the booming market got; nevertheless, they warned versus the sideways motion of the top cryptocurrency. #Bitcoin volatility continues to decrease, which Ive revealed is bullish But the burning concern is, when does the sideways grind end?Upon thinking about I was advised of a time very comparable to now … pic.twitter.com/psO50vxUWD— CryptoCon (@CryptoCon_) August 16, 2023