Bitcoin\u2019s price movement has been rather calm over the past months, with volatility levels decreasing to a historical low \u2014 this is what data from the online analytics company Skew shows. However, the analytics company warns that the outlook for November is increasing volatility taking place as Bitcoin enters a new phase of more significant value appreciation jumps and surges.Source: SkewExamining the historical data on Bitcoin volatility, the spikes above $10,000 usually led to periods of large rallies or a bearish sentiment. However, the past couple of months saw Bitcoin\u2019s price fluctuating between $10,500 and $12,000, which indicates a strong support at $10,000.The volatility decrease makes large-scale investors, and asset managers may consider that Bitcoin\u2019s price could take a turn in the green rather than a plunge downwards. Crypto analysts also consider the detachment of Bitcoin\u2019s price from the traditional stock market to be a catalyst for the world\u2019s biggest cryptocurrency. Since the COVID-19-related market crash in March, both Bitcoin and the stock markets moved in parallel, but in the past week, the crypto leader price movements were independent.\u201cBitcoin rallies to almost $12k while stocks stumble as the cryptocurrency is emerging as a relative oasis of calm and outperformance. Crypto fans are closely watching the $12,000 level as a major hurdle to cross before it can embark on a bigger rally,\u201d market analyst Holger Zschaepitz stated.Long-term Bitcoin investors, like the Winklevoss twins, are also optimistic about Bitcoin\u2019s upwards price action in the future. The co-founder and CEO of Gemini, Tyler Winklevoss, highlighted that Bitcoin is in a consolidation period \u201cwithin striking distance of $12,000.\u201d Consolidation trading below a key resistance value is typically considered as a medium-term bullish stance.However, Bitcoin\u2019s upwards rally may be stopped by \u201cold hands sell-off\u201d \u2014 when investors are cashing out large profits.Crypto enthusiast and analyst\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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