Are Bitcoin Prices Heading For Intense Volatility?

Are Bitcoin Prices Heading For Intense Volatility?

Since late May, the digital currency has been stuck mostly between $30, 000 and $42, 000, CoinDesk figures show. In spite of this, some market observers have claimed that the digital currency is not only poised to break free of its current range, but could experience some serious upside while doing so. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Oliver von Landsberg-Sadie, the CEO of payments company BCB Group, spoke to this recently. "Bitcoin price has been consolidating in a tight range between 42K and 30K for over 8 weeks, with decreasing volume and volatility," he noted. "The longer an asset's price consolidates, the larger the expected expansion when volume and volatility return. We have seen this countless times with Bitcoin, so the expectation is that the next move will be explosive," said Melker. "On-chain analysis indicates that supply is being transferred from impatient speculators to Bitcoin whales with large wallets, with new wallets selling and old, larger wallets buying." "This theoretically indicates that the smart money is accumulating ahead of the next major move to the upside." "I disagree