Bitcoin (BTC) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Wednesday, the Digital Money has lost 2.72% to $20769.98.
Low Volatility
InvestorsObserver gives Bitcoin a low volatility rank of 7, placing it in the bottom 7% of cryptos on the market.
The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day.
BTC’s low volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.
Bitcoin price is trading near resistance. With support near $20319.47 and resistance set at $20779.59. This positions Bitcoin with potential selling pressures ahead as it may be getting over extended.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.
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Read More: Bitcoin (BTC) Falls 0.03%, Outperforms the Crypto Market Wednesday