Bitcoin Classic (BXC) Rises 60.54%, Outperforms the Crypto Market Tuesday

Tuesday, January 04, 2022 07:28 AM | InvestorsObserver Analysts

Bitcoin Classic (BXC) has been relatively more volatile than the crypto market according to a recent analysis of the market. So far Tuesday, the crypto has added 60.54% to $0.07460933735.

InvestorsObserver is giving Bitcoin Classic a 79 Volatility Rank. Find out what this means to you and get the rest of the rankings on Bitcoin Classic!

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Highly Volatile

InvestorsObserver gives Bitcoin Classic a high volatility rank of 79, placing it in the top 21% of cryptos on the market.

The Volatility Gauge analyzes which means that one day won't define its volatility rank - a trend will. BXC's high volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively wide price swings and is well protected from price manipulation.

Bitcoin Classic price is trading above resistance. With support at $0.0331939822973076 and resistance near $0.0696455716134373. This positions Bitcoin Classic 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.