Cryptocurrency Bitcoin volatility is here to stay, top technician warns

Bitcoin volatility is here to stay, top technician warns

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Bitcoin volatility is here to stay, top technician warns
Bitcoin

Don’t expect and don’t think Bitcoin’s wild fluctuations will subside anytime soon.

This corresponds to Ari Wald, head of technical analysis at Oppenheimer, who clarified that the cryptocurrency movement is intense and volatile and will not disappear.

“You have to be aware and able to withstand the consequences of these fluctuations.” His father said Monday in the “Trading Nation” program on CNBC of America. “As the reward rises and increases, a lot of fluctuating variables come from day to day, even week to week and hourly. For another. “

Bitcoin contracted to nearly 3% on Monday after Federal Reserve Chairman Jerome Powell confirmed cryptocurrencies as “speculative assets” and said the Fed was in no hurry to develop a central bank digital currency.

Wald said: “This is something that can define a 20% drop and still hold all trend lines and support levels and leave the trend unobstructed.” “Take for example the action only last February. It hit a high of about $ 58,000 and down the next day down to $ 44,000. It’s been really volatile and solid since then.”

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