- Bitcoin’s 10-day realized volatility is currently at 20%.
- The last time the cryptocurrency hit similar levels was just prior to the massive Bitcoin price decline in November 2018 that brought Bitcoin prices under $4,000.
Cryptocurrencies are notorious for their relatively high volatility compared to other markets. According to Skew, a cryptocurrency data analytics platform, Bitcoin’s current 10-day realized volatility is currently at 20%. Furthermore, Skew noted that the last time the Bitcoin 10-day realized volatility reached these levels was before the massive Bitcoin price decline in November 2018.
A year after the Bitcoin bull run, November 2018 was an exciting month for Bitcoin bears as the cryptocurrency plunged from over $6,000 to under $4,000 in just a month. Bitcoin’s 40% fall that month erased billions from crypto markets in a matter of weeks.
Bitcoin Bulls Prop Up Bitcoin Above $9,000
After drifting below $9,000 in the past week, Bitcoin bulls have managed to prop up the cryptocurrency back above $9,000. The cryptocurrency is now trading at the $9,300 level, up nearly 3%. Other cryptocurrencies like Ethereum and Ripple are also up Monday.
Bitcoin’s rise triggered a wave of Bitcoin short liquidations, as reported previously by The Crypto Associate. Opening Bitcoin shorts allow traders to make money when Bitcoin falls. However, short holders lose money when Bitcoin rises. While Bitcoin’s 3% rise today is nothing like the bull run in 2017, traders using large amounts of leverage may face liquidations by even small price movements.
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