Bitcoin (BTC) Up 3.4% Thursday: What's Next?

Thursday, March 28, 2024 11:53 AM | InvestorsObserver Analysts

Bitcoin (BTC) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Thursday, the Digital Money has advanced 3.4% to $71388.81.

InvestorsObserver is giving Bitcoin a 18 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 18, placing it in the bottom 18% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. 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 above resistance. With support at $67706.33 and resistance set at $71052.08. This leaves Bitcoin out of range and potentially in a volatile position if the rally burns out.

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.