BTC’s current period of low volatility was one of the lowest in its history.
Bitcoin continued to hold to its tight price range, showing extremely low signs of volatility. The global economy’s unpredictability reflected heavily on the markets as neither bulls nor bears participated broadly. Some analysts term the current period as one of the lowest volatility periods in the history of BTC. The Christmas weekend failed to uplift the market as it stayed cool, and most altcoins traded sideways, remaining stagnant.
Crossing the $16900 mark was BTC’s next target as it faced stiff resistance at this level. Crypto proponents maintained their positivity, hoping BTC would breach $17000 before the year ended. Their main point of contention was Bitcoin not slipping to lower levels and ending the year at reasonable levels even after the bankruptcy of a major big exchange in the industry in November 2022. Holding the support at $16500 showed investors’ confidence in BTC’s underlying technology and long-term prospects.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $16800 on December 26, 2022, with BTC/USD down by 0.13% in the last 24 hours. BTC/USD is trading below its 20-day EMA (17,013.64), with most altcoins trading at the same levels in the last 24 hours. According to some experts, improvement in global economic stability and a further cooling of inflation could trigger a rally in 2023. Most view the present period of volatility in the markets as temporary.