{"id":10496,"date":"2023-08-09T14:29:37","date_gmt":"2023-08-09T14:29:37","guid":{"rendered":"https:\/\/isafespend.com\/investing\/bitcoin-price-rises-but-even-crypto-bulls-wonder-if-the-big-gains-are-over\/"},"modified":"2023-08-09T14:29:38","modified_gmt":"2023-08-09T14:29:38","slug":"bitcoin-price-rises-but-even-crypto-bulls-wonder-if-the-big-gains-are-over","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=10496","title":{"rendered":"Bitcoin Price Rises. But Even Crypto Bulls Wonder if the Big Gains Are Over."},"content":{"rendered":"
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<\/div>
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Bitcoin is in a period of historically low volatility. Is it just a rut, or something more permanent?<\/h4>\n


\n Rutmer Visser\/Dreamstime
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

Bitcoin and other cryptocurrencies were rising Wednesday but continue to exhibit stagnant price action over a longer term as analysts and market participants increasingly wonder whether it\u2019s a rut\u2014or a more permanent pattern.<\/p>\n

The price of
\n Bitcoin
\n has advanced more than 2% over the past 24 hours to $29,800, though the largest digital asset remained below the key $30,000 level that had provided it with support for months before a slide lower in late July.<\/p>\n

\n

\u201cBitcoin is looking heavy even as it has climbed over the last 24 hours. Volumes are still relatively low. Retail investors are not coming into the digital asset space in meaningful size, at least not yet,\u201d said Zachary Townsend, the CEO of Meanwhile, an insurance company that operates in Bitcoin. \u201cIt does seem as though big buyers are scooping up large amounts of Bitcoin when the price dips below $29,000,\u201d he added.<\/p>\n

While stocks and the
\n Dow Jones Industrial Average
\n and
\n S&P 500
\n have proved exciting in recent weeks, Bitcoin and other tokens have fallen into a dull patch, with the volatility characteristic of cryptos dropping off a cliff.<\/p>\n

\u201cBitcoin markets are experiencing an incredibly quiet patch, with several measures of volatility collapsing towards all-time lows,\u201d analysts at crypto market intelligence firm Glassnode wrote in a note this week. \u201cGiven the context of Bitcoin\u2019s infamous volatility, is a new era of Bitcoin price stability upon us, or is volatility mispriced?\u201d<\/p>\n

This sentiment represents a split in the outlook for cryptos. On the one hand, some bulls suggest this is just the calm before the storm: a phase typical of early bull markets where big gains\u2014Bitcoin remains up some 80% this year\u2014flatten out before yet another run higher. But such an extended period of low volatility for Bitcoin could also herald a sea change in trading patterns, a shift that is not necessarily positive since many investors flock to the asset class exactly because of its volatility.<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014jumped 2% to $1,860. Smaller cryptos, or altcoins, were even more buoyant, with
\n Cardano
\n climbing 3% and
\n Polygon
\n popping 4%. Memecoins also were upbeat, with
\n Dogecoin
\n up 3% and
\n Shiba Inu
\n soaring 9%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is in a period of historically low volatility. Is it just a rut, or something more permanent? Rutmer Visser\/Dreamstime Bitcoin and other cryptocurrencies were rising Wednesday but continue to exhibit stagnant price action over a longer term as analysts and market participants increasingly wonder whether it\u2019s a rut\u2014or a more permanent pattern. The price<\/p>\n","protected":false},"author":1,"featured_media":10497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-10496","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nBitcoin Price Rises. But Even Crypto Bulls Wonder if the Big Gains Are Over. | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Bitcoin is in a period of historically low volatility. Is it just a rut, or something more permanent? 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