The price of Bitcoin at the time of writing this article is estimated at 11,864 dollars, according to coinmarketcap.

Thus, the bitcoin has achieved only 94 days above the level of $ 11,500, according to the “Skew” crypto-analytics company, where researchers noted today that the bitcoin has achieved and completed 94 days (more than three months) above the level of $ 11,500 thousand since the inception of the bitcoin currency until now.

# bitcoin It has only spent 93 days, three months, since launching above the current price of $11.5K pic.twitter.com/RY09gJYzEl

– skew (skewdotcom) October 19, 2020

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hung Pedro Febrero, an analyst at Quantum Economics, said:

This means that if you earned bitcoin on any day other than the 94 days, you are currently or close to making a profit.

Skew researchers also highlighted the fact that it is the first time that bitcoin’s volatility has been so low while bitcoin’s price is hovering above $10,000.

Febrero explained that this usually means that the price will consolidate within the current trading range, and added:

Conversely, if we see a spike in volatility, it could mean that Bitcoin is preparing for a major move either to the upside (most likely) or to the downside.

When Skew mentions that it is unusual to see bitcoin above $10,000 with such low volatility it means that when bitcoin is trading above $10,000 the volatility is usually high.

Febrero added:

Interestingly, this could also mean that Bitcoin has finally found strong support above $10,000, which is a very bullish sign.

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Perhaps expectations that we will never see Bitcoin below $10,000 will re-emerge during this time.

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