Bitcoin (BTC) trading sideways may be boring for those trying to profit from the price swings, but it is far from a new thing for the original cryptocurrency to do (relatively) nothing.
If there is one thing all traders need to make money, it’s volatility. And bitcoin traders are no different from traditional traders here. In fact, it could be argued that they rely on strong volatility even more due to the more volatile nature of digital assets compared to traditional assets like stocks and fiat currencies.
As a result, bitcoin’s volatility – or lack thereof – has again become a concern for some with the number one cryptocurrency now on its third week in a consolidation zone that measures less than 10% from bottom to top.
The latest round of sideways price action started on May 10th, when the BTC chart had just printed its 7th weekly red candle – then, the biggest number of weekly red candles bitcoin’s history.
As usual in markets, volatile periods end with consolidation phases,...
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