Low Volatility and Binance Enters the US
By Nicolas Abington | Crescent City Capital Market Analyst Intern
Low Volatility
According to calculations by Blockforce capital, Bitcoin’s price volatility has recently reached a 4 month low of 53.3%. For clarification on the calculation, volatility is being measured by multiplying the asset’s standard deviation, in this case, Bitcoin’s standard deviation, by the number of days in a trading year. While low volatility creates lulls for active investors in the crypto space, Bitcoin has a long history of consolidation phases followed by extreme price movements. As we watch Bitcoin, the question to focus on is if the bulls or the bears are going to be leading the next wave of volatility.
Binance Entrance to the US
The largest crypto exchange in the world by volume is going to be making its US debut on September 18th. The exchange Binance will be opening accounts to US citizens (except New York) as long as they provide their valid government ID and Social Security numbers upon sign up. The exchange will let US citizens trade 6 crypto assets at launch, which are BTC, ETH, XRP, BCH, LTC, and USDT. Even with Binance’s sketchy past of leveraging Binance coin to use the exchange effectively, additional exchanges being available to more potential investors is always positive in the crypto space.
“Bitcoin’s Boring Again. Is $10,000 BTC’s Yawn-Worthy New Normal?” By Will Heasman September 11, 2019
https://www.ccn.com/bitcoins-boring-again-is-10000-btcs-yawn-worthy-new-normal/
“Binance U.S. to start accepting account registrations; will initially support 6 assets” By The Block September 11, 2019