Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-indicator-reaches-tightest-point-in-twelve-months/" data-wpel-link="internal">Bitcoin Indicator Reaches Tightest Point in Twelve Months</a> 
An indicator used by <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> to assess volatility has reached its tightest point in twelve months; this development signals that a significant price movement may be imminent. Crypto investor and analyst Matthew Hyland stated in an analysis video on July 31 that a movement is almost near. Here are the notable developments and important <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>. 
<h2 class="p1" style="text-align: justify" id="famous-names-speak-out">Famous Names Speak Out</h2> 
A famous figure noted that the <a href="https://en.coin-turk.com/recent-developments-in-the-cryptocurrency-market-2/" data-wpel-link="internal">Bitcoin</a> Bollinger Bands, a tool measuring the momentum and volatility of an asset within a specific range, have reached the third highest point in their history on weekly time frames since their inception in January 2009. He was not the only investor to notice the emerging pattern. Crypto investor MaxBecauseBTC shared the following statements on the subject: 
<blockquote> 
 “Bitcoin weekly time frame Bollinger Bands have only been this tight twice before. April 2016 and August 2023.” 
</blockquote> 
Three Jay Partners Chief Operating Officer Kristoph Jeffers shared the following statements on X: 
<blockquote> 
 “It’s crazy to me that the weekly Bollinger Bands are currently tighter than the daily Bollinger Bands.” 
</blockquote> 
Although Bitcoin has been consolidating in a narrow range since March 13, between a peak of $73,679 and a short dip of $55,849, Hyland believes this long consolidation period is ending: 
<blockquote> 
 “It’s starting to tighten now, and that’s why the moment is coming, probably within a month.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
Investors previously stated that the longer the consolidation, the greater the subsequent expansion. The famous investor also explained that the bands showed a similar pattern to July 2023, leading to a 20% increase in Bitcoin over the next four months: 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-375954 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/btc.webp" alt="" width="1562" height="799"> 
<blockquote> 
 “The weekly Bollinger Bands reached their tightest points at the end of July last year. I see the same thing once again.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-375953 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/hyland.webp" alt="" width="1776" height="1271"> 
Bitcoin increased by approximately 20% between July and November 2023. According to CoinMarketCap data, if history repeats itself, Bitcoin’s current price of $63,845 could quickly reach a new all-time high of $76,614 by November. Hyland explained that this could take a few more weeks, but he believes Bitcoin is very close to seeing an explosive move. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-indicator-reaches-tightest-point-in-twelve-months/" data-wpel-link="internal">Bitcoin Indicator Reaches Tightest Point in Twelve Months</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-indicator-reaches-tightest-point-in-twelve-months/" data-wpel-link="internal">Bitcoin Indicator Reaches Tightest Point in Twelve Months</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Indicator Reaches Tightest Point in Twelve Months

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