Bitcoin Realized Volatility Last Did This Right Before 2018 Sell Off

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j.c.gutierrez
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Bitcoin ( BTC ) could be heading for a repeat of its late 2018 sell-off, data warns as realized volatility reaches almost three-year highs. Uploading fresh charts on July 6, on-chain analyst Skew drew concerning comparisons to Bitcoin in its 2018 bear market. Analyzing realized volatility, Skew noted that the last time the metric hit 20%, a mass capitulation event followed, during which BTC/USD hit $3,100.“Last time we reached that level, we had the great sell-off of November 2018 shortly after,” analysts warned. Realized volatility refers to historical volatility measurements, with 20% on the 10-day reading marking a 33-month low. Bitcoin realized volatility 3-year chart. Source: SkewAs Cointelegraph reported last week, the lack of volatility has come hand in hand with declining volumes in Bitcoin, which analysts already believe will soon spark a “big move” up or down. BTC/USD is repeatedly testing $9,000 support, while attention is focusing on defending $8,600 to avoid a larger drop. While Bitcoin looks shaky, the opposite is true for gold, with commentators eagerly anticipating a bullish breakout. With stocks booming but uncertainty remaining about long-term sustainability, gold is challenging its all-time highs from 2011. Bitcoin vs. Gold 1-year chart. Source: SkewFor Bitcoin skeptic gold bug Peter Schiff , the investment choice was obvious once again as the week began.“Gold seems to be chipping away at resistance just below $1,800 while Bitcoin is simultaneously chipping away at support just above $9,000,” he wrote as part of a Twitter survey on Sunday.“I expected both resistance and support to give way, with #gold surging as #Bitcoin collapses.”Peter Schiff’s Twitter survey results. Source: TwitterRespondents appeared to disagree, with almost 50% of the 9,800 participants forecasting both gold and Bitcoin to continue climbing.


All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/bitcoin-realized-volatility-last-did-this-right-before-2018-sell-off


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