Dennis Porter, CEO of SatoshiActFund, points out that Bitcoin’s volatility is currently at historic lows. The executive posted a chart, noting that the last time volatility dropped this much, BTC was “up 600%.” On-chain data reveals that volatility in Bitcoin is at an all-time low. In his chart, Porter points to a similar drop in volatility in late 2020. Bitcoin exited the consolidation phase in October 2020 and greatly appreciated. At that time, the Bitcoin price was just under $10,000. Almost a year later, Bitcoin hit an all-time high of $69,000 in November 2021.
“Last time #Bitcoin volatility was this low it went on a 600% rip.”
The expert points out that BTC has increased by close to 600%, implying that if history repeats itself, BTC could reach new highs. Another time volatility dropped to current levels was in late 2018. This was a bear market similar to the current situation. During this period, BTC lost value. As 2023 approaches, analysts think that the current macro environment, lack of regulation, trust in the cryptocurrency market and anti-crypto rhetoric may continue to put pressure on Bitcoin.