The current flat may be the longest in the history of Bitcoin. Why is it good?

Bitcoin is considered the most profitable asset in the history of mankind. Not surprisingly, because of the increased interest from the public BTC often experienced periods of very high volatility. Now, however, the market situation is directly opposite — the activity of traders on the exchanges tends to zero.

According to the trader Murad Makhmudov, low volatility is generally considered a neutral factor in the bidding. And yet historically, a long flat on Bitcoin usually ended in a sharp increase. Repeat the cycle this time?

When you start to grow Bitcoin

Recall the last time such a long “period of stagnation” was preceded by draining of the main cryptocurrency, which occurred in November, just after the hard forks of Bitcoin Cash.

This month Bitcoin has traded in a fairly narrow for a digital asset channel. Its width is equal to 7.8% of the value of BTC. For comparison: the fall of Bitcoin from 6,000 up to $ 3,000 represents a reduction of price by 50 percent.

According to data from MarketWatch, the current flat may be the longest in the history of Bitcoin if the March candle on the 1-month chart will be closed within the intended shopping channel. Recall that the main cryptocurrency broke the record for the duration of the bearish trend back in February of this year.

Mahmudov noted that in previous bear cycle a prolonged period of low volatility was observed after the fall of Bitcoin from 1000 to 200 dollars. As you could already understand, the flat ended new parabola, which brought the asset to a new peak of 20 thousand dollars.

By the way, almost a month ago, the expert outlined the approximate development of the market for the next couple of years.

The bottom is formed in the second quarter of 2019. No bullrun until the second quarter 2020.

Other bullish forecasts can be found in our cryptodata. Also don’t forget to follow the news of our pool 2Miners.


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