Lots of Volatility, Little Price Change
Lots of volatility but little price change. This is how we can sum up the last seven days in BTC and LTC. Both cryptos are currently quoted less then 1 percent away from the price noted last Tuesday. Bitcoin is trading at $1057 versus $1062 back then, while LTC/USD is quoted at $4.124 vs $4.120 dollars per coin.
Lots of Volatility, Little Price Change
If you were gone for a week and just checked the price of bitcoin, you would’ve thought nothing major happened. While BTC is trading only half a percent away compared to last Tuesday, volatility is through the roof, as can be seen on the chart below.
Read more: https://blog.fxopen.com/lots-of-volatility-little-price-change/
I have observed a drop off in price on Fridays - 4 out of the last 5. This is a sign (to me) of weak hands in the market trading during the week and closing out on Fridays before party time.
Markets do like to find a new equilibrium point - Bitcoin is no exception. It will find a level somewhere between the top and the bottom of the last big range and build from there. About where price is now is the midpoint ($1,030)