Altcoin Buzz YouTube channel host Cody Buffinton is of the opinion that bitcoin's surge in volatility will happen sooner than everyone expects.
In his opinion, the upcoming volatility of the flagship cryptocurrency can rival its 40% growth since January 2023.
Buffinton noted that in July, the price of bitcoin fluctuated in a narrow range around the $30,000 mark, which became a kind of test for both bulls and bears. And most often such a flat occurs before major movements.
As evidence, he cited Bollinger Bands and a visual display of the indicator, which shows that on the price chart Bitcoin is in the narrowest state since the beginning of 2023.
Since January, the price of bitcoin has almost doubled: BTC started the year at $16,530, but over the past seven months, the first cryptocurrency has reached an annual high of $31,818, showing a gain of 91.84%.
On the evening of July 23, Bitcoin once again rose above the $30,000 mark, which has long been considered a psychologically important support. For many market participants, this is a sign of a future uptrend.