Bitcoin has seen some of the most boring price action it has witnessed in over a year.
After ranging between $9,000 and $10,000 for over two months, the cryptocurrency has now narrowed its trading range to between $9,000 and $9,300, with BTC primarily just hovering around $9,100.
The benchmark digital asset is showing few signs of breaking this trend anytime soon, but one analyst does believe that this could mark the “calm before the storm.”
So. what do you think?
The Bitcoin price has low volatility,because the army of HODLers increased in number,so more crypto trader and BTC enthusiasts are HODLing their bitcoins,waiting for the bullish trend.The problem is that there's no event that would trigger the bullish trend and drive increased demand for Bitcoins.
After a while,many HODLers will get tired of waiting and will start selling their Bitcoins.This will trigger a bearish trend and push the BTC price down."The storm" will look like a Bitcoin price crash,but I'm confident in the long term future of Bitcoin.