Bollinger Bands Indicator: Bitcoin Price Predicted to Surge?

Bittime - Bitcoin (BTC) Bollinger Bands indicator is currently in the third extreme state of contraction. What does it mean? Read this article to find out the full news!

Indikator Bollinger Bands Bitcoin (BTC)

Source: cointelegraph.com

Julien Bittel, head of macro research at Global Macro Investor, stated that this Bitcoin price volatility indicator shows that BTC prices are likely to experience a sharp spike. 

Previous extreme contractions in the Bollinger Bands occurred in April 2016 and July 2023, and both were followed by significant Bitcoin price increases in the next 12 months.

What is Bollinger Bands?

Bollinger Bands are one of the most important volatility indicators in the crypto market. This indicator provides insight into the strength of a price trend by measuring the distance between the upper and lower bands. 

On the weekly chart, the distance between the upper and lower bands is rarely as narrow as it is today, which usually signals a favorable market trend for bullish investors. Bittel revealed that if historical patterns repeat themselves, the price of Bitcoin could reach between $140,000 to $190,000.

Currently, the price of BTC is around $63,700, an increase of 11% in the past week. Although trader confidence is slowly recovering and price indicators suggest that the bull market will continue, mainstream retail investor interest is still lacking, in contrast to the accumulation behavior seen from institutions and large investors. 

Renowned trader Rekt Capital believes that September this year will be a key moment for Bitcoin to break through its boundaries. New analysis predicts that Bitcoin should experience a significant surge as expected volatility increases.

Potential of Bitcoin Price Surge 

Source: cointelegraph.com

Julien Bittel, head of macro research at the publication Global Macro Investor, said that BTC prices could reach up to $190,000. The “compressed” state of the Bollinger Bands fueled speculation that Bitcoin price could reach the six-digit mark if volatility signals behave as they have in the past.

Bollinger Bands form one of the most important crypto volatility indicators and also offer insight into the strength of price trends. On weekly time frames, the distance between the upper and lower bands has rarely narrowed this close. And usually this would be good news for Bitcoin investors.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.