For a product famed for its wild price swings and double-digit percentage moves, Bitcoin is currently experiencing a lull in price action with volatility currently sitting at a multi-month low. Get your market update from nickcawley1 here:
The last time these two simple moving averages crossed was back in mid-September when a bullish ‘golden-cross’ was formed. The price of Bitcoin moved lower in the next couple of weeks before rallying hard.Bitcoin currently trades in a tight range and may continue trading sideways until next week’s Fed decision is out of the way. Bitcoin has become more of a risk-proxy of late, moving higher when the market turns risk-on and lower when the market turns risk-off.
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