Here’s Why Bitcoin Breaking Higher Now Would Trigger a Massive Move


While Bitcoin has seen strong volatility on a day-to-day and week-to-week basis, it is flat on a macro scale. The crypto-asset has basically traded in the same $3,000 range for five months now. This has allowed macro volatility indicators to subside to critical historical points.

Volatility analysis by one fund manager in the space suggests that when a breakout happens, it will be explosive. He thinks it will be so explosive, in fact, that Bitcoin could hit $20,000 in three months if it attempted to break higher now.

How To Get Free Crypto  
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Next Bitcoin Breakout Likely to Be Explosive

Bitcoin’s next macro breakout is likely to be explosive, according to an analysis by crypto fund manager Mohit Sorout. Sorout is a founding partner of Bitazu Capital.

14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now!

He recently shared this chart below, which shows that on a macro basis, Bitcoin’s volatility is extremely low. In fact, it’s reaching lows seen rarely in BTC’s history, with these levels only occurring approximately once a year.

This is neither bearish nor bullish in its own right.

However, if Bitcoin breaks higher, historical trends indicate that the responding move should be one that is explosive. Each rally and crash after volatility was this low historically was explosive: for one, prior to the crash from $6,500 to $3,200, Bitcoin macro volatility was this low.

This suggests that should BTC break higher here, it will rip higher to new year-to-date highs:

“Calm before the storm. If $BTC was to breakout today, it would most probably reach its previous ATH of $20k within 3 months.”

Chart of BTC's price action voer the past few years with a volatility analysis by crypto trader Mohit Sorout.
Source: BTCUSD from TradingView.com
Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin

Fundamental Analysts Agree

Fundamental analysts agree

Dan Tapiero — the co-founder of DTAP Capital, Gold Bullion International, and other companies — recently said that Bitcoin could rapidly surge higher in the years ahead:

Coinbase Banner  

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

This has been echoed by Vinny Lingham, CEO of Civic. He said that BTC could appreciate by 200% to 400% in the coming 12 months as macro trends align in BTC’s favor.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Here's Why Bitcoin Breaking Higher Now Would Trigger a Massive Move

Go to Source
Author: Nick Chong


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.