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Bitcoin (BTC) Falls 0.02%, Underperforms the Crypto Market Friday

Friday, March 01, 2024 09:45 AM | InvestorsObserver Analysts
Bitcoin (BTC) Falls 0.02%, Underperforms the Crypto Market Friday

Bitcoin (BTC) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Friday, the Digital Money has fallen 2.17% to $61714.38.

volatility - 19
InvestorsObserver is giving Bitcoin a 19 Volatility Rank. Find out what this means to you and get the rest of the rankings on Bitcoin!

Low Volatility

InvestorsObserver gives Bitcoin a low volatility rank of 19, placing it in the bottom 19% of cryptos on the market.

The Volatility Gauge tracks meaning that one day won't make or break its rank. 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 in a good position going forward. With support at $59406.35 and resistance around $62493.27. This leaves Bitcoin with room to run before facing selling pressures.

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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