Researchers at the American cryptocurrency exchange Kraken report that Bitcoin volatility has grown significantly in January and reached its maximum level since April 2020.
January was remembered by the cryptocurrency community for a spurt in the BTC rate to $ 42,000, a decrease to $ 29,000, and then a second rise. According to a report by Kraken analysts, on an annualized basis, the volatility of the first cryptocurrency reached 106% – a higher indicator was recorded only in April last year, after a sharp drop in Bitcoin on Black Thursday and its subsequent recovery.
Interestingly, among the five largest cryptocurrencies in terms of capitalization, Bitcoin volatility turned out to be the least, except for the stablecoin Tether. So, the volatility of the Polkadot (DOT) coin was 228%, Cardano (ADA) – 183%, and ETH – 160%. Analysts expect February to be more successful for the BTC rate:
“Considering that the average bitcoin rate in February is growing by 6% more than in January, and its volatility is 15% lower, then we should expect the growth of the first cryptocurrency.”
Judging by the fact that yesterday, February 9, the rate of the first cryptocurrency for the first time in history exceeded $ 48,000, the expectations of Kraken analysts turned out to be correct.
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