Ahead of halving, volatility metric shows Bitcoin is near recent “sell-off” levelsBTC $7779 (+0.1%) • ETH $198 (+0.8%) • XRP $0.21 (+8.7%)
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Bitcoin’s recent price rise is attributed to the much-awaited halving event on May 12, but one metric suggests a sell-off is due if past samples are considered. Metric close to previous levels but not “holy grail” On-chain analytics provider Skew noted Bitcoin’s implied volatility indicator neared previous “sell-off” zones — specific instances where certain levels on the proprietary indicator were followed by a decrease in Bitcoin prices early this year. The mentioned levels were previously seen in early-February, 2020, when Bitcoin briefly touched the $10,000 level but began a drastic 50 percent decline — from 18 February – 22 March — soon after. The indicator’s parameters led to sell-offs in October and November 2019, when Bitcoin went from approximately $10,000 to $8,000 and $8,800 to $7,000 respectively. More news ⏬Cardano (ADA) is looking to challenge subscription industry, launches African initiative
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Stellar Lumens has managed to decouple from the rest of the cryptocurrency market over the past few hours. What else?🐌 Cardano founder Charles Hoskinson: Bitcoin (BTC) is an example of low development velocity 📊 Bitfinex’s new social network targets traders and crypto enthusiasts alike 🏊♂️ Binance sets foot in the mining sector with new PoW and PoS mining pool Featured sponsors🎬 ChainFlix - ChainFlix is a revolutionary blockchain-based P2P video streaming platform that allows viewers, content creators, and enhancers to monetize their time, contents, and efforts. In the Chainflix platform, coins are to be mined during the video-viewing process, and all participants in the system (content creators and activators, storage providers, viewers, operation participants and advertisers) are organically connected in a way to ensure user-oriented operation and fair distribution of blockchain-based and PoA algorithm-mined coins among the participants. Learn more ☁️ Bitcoin Wallet - Bitcoin Wallet is a cloud-based mobile and desktop cryptocurrency storage and exchange app with a focus on security, speed and convenience. Bitcoin Wallet allows you to use any coins, tokens and blockchains without any restrictions and limits. Learn more 💳 Crypto.com - Founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of ”cryptocurrency in every wallet” into reality, one customer at a time. Learn more 📈 AMFEIX - AMFEIX groups investors' funds into a pool that is managed by experienced traders on liquid exchanges. Our team of professional technical traders and analysts execute open market operations on a daily basis and make profits from the volatility. Learn more Want to be seen here? Contact us Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
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