Bitcoin (BTC) Down 0.17% Saturday: What's Next?

Saturday, December 04, 2021 06:03 AM | InvestorsObserver Analysts

Bitcoin (BTC) has been relatively less volatile when compared to other cryptocurrencies. So far Saturday, the Digital Money has declined 16.62% to $47480.1, hitting a five-day high.

InvestorsObserver is giving Bitcoin a 6 Volatility Rank. Find out what this means to you and get the rest of the rankings on Bitcoin!

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Low Volatility

InvestorsObserver gives Bitcoin a low volatility rank of 6, placing it in the bottom 6% of cryptos on the market. The Volatility Gauge tracks the previous 60 days, meaning that one day won't make or break the score. BTC's low volatility reading is coupled 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 around $42979.34 and resistance set at $47964.93. This leaves 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.