NEW Stimulus Checks, Kraken's BTC Volatility Report, October 2020! Let's take a Deeper look!

We're discussing the NEW Stimulus Checks, and Kraken's Bitcoin Volatility Report for October 2020! Let's take a look inside...

Kraken Intelligence, our team of in-house research experts, has released its Bitcoin Volatility Report for October 2020.

Key Takeaways:
Grayscale reported record quarterly inflows of $1 billion, Square announced a $50 million bitcoin purchase and PayPal revealed it will allow users to buy and sell bitcoin, developments that provided no shortage of positive news for the market.

Roughly 70,000 BTC left wallets holding over 100 BTC during the month, suggesting larger whales were engaged in profit-taking. However, demand from wallets with under 100 BTC offset these sales, as evidenced by bitcoin’s climb above $13,800.

After setting an intra-month low of $10,384 on Oct. 2, bitcoin roared more than +28% to a 33-month high of $14,080 on Oct. 31 before finishing the month at $13,809.

Annualized volatility was down 20 percentage points in October, with the metric falling to a 19-month low of 35.5%.

Given bitcoin’s parabolic past, July’s multi-year pennant breakout and bitcoin’s latest move through $13,800 resistance, an ascent to $20,000 may follow.

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