On Saturday, the Bitcoin exchange rate fell by $ 150 and is now at $ 7,150. Analysts believe that the first cryptocurrency needs to cross the $ 7,300 mark to continue to grow.
According to the Bollinger indicator - a price prediction model based on a 20-day moving average - volatility should return to cryptocurrency markets soon.
"Most crypto currencies are at or near Bollinger Band Squeeze levels. Time to pay attention,"said John Bollinger, inventor of the indicator on the social network Twitter.
According to analyst Josh Olszewicz, the current market situation may lead to price movements of the first cryptocurrency in the amount of 20%. In 2019, similar situations have already happened and the Bitcoin exchange rate has changed significantly. The analyst believes that if the price of the first cryptocurrency fails to gain a foothold above $ 7,300, then the likelihood is that the movement will be downward.
Recently, Digital Assets Data analysts said that despite a significant decrease in value from record levels in 2017, cryptocurrencies remain the most profitable financial instruments in the world.