Bitcoin Clings to $19,000 as Trader Promises Surrender “Will Happen”
A lackluster weekend sees BTC price action erase all traces of the week's volatility as commentators await the return of excitement.
Market Update
Bitcoin (BTC) remained tightly pegged at $19,000 until the weekly close on October 16 as analysts warned that volatility was long overdue.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView captured a lackluster weekend for BTC/USD, with the pair barely budging in after-hours trading.
After economic data from the United States triggered a series of signature fakeout events over the week, Bitcoin returned to its original position and, at the time of writing, was not showing no sign of breaking out of its established range.
For Michaël van de Poppe, founder and CEO of trading platform Eight, the question was not if, but when unpredictability would return to crypto.
"A matter of time until massive volatility returns to the markets, after four months of consolidation," he told his Twitter followers the same day, adding:
"The majority still assumes that we will continue to go down with the markets, but I think the chances of upward momentum have increased."
The week's macro numbers managed to spark a run to one-week highs for BTC/USD, with another popular commentator, Crypto's pseudonym il Capo, arguing that a market relief rally bearish could see a return to $21,000 before the decline continues.< /p>
In a Twitter update ahead of the weekly close, they
A lackluster weekend sees BTC price action erase all traces of the week's volatility as commentators await the return of excitement.
Market Update
Bitcoin (BTC) remained tightly pegged at $19,000 until the weekly close on October 16 as analysts warned that volatility was long overdue.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView captured a lackluster weekend for BTC/USD, with the pair barely budging in after-hours trading.
After economic data from the United States triggered a series of signature fakeout events over the week, Bitcoin returned to its original position and, at the time of writing, was not showing no sign of breaking out of its established range.
For Michaël van de Poppe, founder and CEO of trading platform Eight, the question was not if, but when unpredictability would return to crypto.
"A matter of time until massive volatility returns to the markets, after four months of consolidation," he told his Twitter followers the same day, adding:
"The majority still assumes that we will continue to go down with the markets, but I think the chances of upward momentum have increased."
The week's macro numbers managed to spark a run to one-week highs for BTC/USD, with another popular commentator, Crypto's pseudonym il Capo, arguing that a market relief rally bearish could see a return to $21,000 before the decline continues.< /p>
In a Twitter update ahead of the weekly close, they
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