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BTC noted that volatility has just returned to November 2018 levels

July 6, 2020

Bitcoin (BTC) could be on track to repeat the sale in late 2018how to warn the data since the volatility registered it reaches maximum values ​​in almost three years.

Update of the charts on July 6, the chain’s analyst Inclination made comparisons to Bitcoin in its 2018 bear market.

Bitcoin volatility drops to 20% in 10 days.

Analysis of realized volatility, Skew noted that the last time the metric system hit 20% was a mass surrender event where the BTC / USD pair hit $ 3,100.

BTC noted that volatility has just returned to November 2018 levelsBTC noted that volatility has just returned to November 2018 levels

“The last time we reached this level shortly after we saw the big sale in November 2018,” analysts warned.

The volatility carried out relates to historical volatility measurements, with 20% marking at least 33 months in the 10-day reading.

Bitcoin realized volatility 3-year chart

Bitcoin volatility chart realized in 3 years. Source: Skew

As Cointelegraph reported last week, The lack of volatility went hand in hand with Bitcoin’s volume decline, which analysts already believe will soon lead to a bullish or bearish “big step”.

BTC / USD Support of $ 9,000 is repeatedly tested, while the focus is on defense of $ 8,600 to avoid a further decline.

Gold ready to compete with the highest levels ever

While Bitcoin appears to be unstable, the opposite is true for gold, with commentators eagerly awaiting a bullish breakout.

With booming stocks, but with uncertainty about long-term sustainability, Gold will challenge its all-time highs starting in 2011.

Bitcoin vs. Gold 1 year chart

Bitcoin vs. Chart gold in one year. Source: Skew

For the Bitcoin skeptic Peter Schiff, The choice of investment was obvious at the beginning of the week.

“Gold seems to be losing resistance just below $ 1,800 while Bitcoin is losing just over $ 9,000 in support,” he wrote in a survey in Twitter On Sunday.

“I expected both resistance and support to wane. with the # gold rising as #Bitcoin collapses“”

Results of Peter Schiff's Twitter survey

The results of Peter Schiff’s Twitter survey. Source: Twitter

The respondents did not seem to agree Almost 50% of the 9,800 participants predicted that both gold and Bitcoin would continue to rise.