Bitcoin Analysis on August 28: Calm Before the Storm

Bitcoin Market Consolidation and Volatility Analysis

Bitcoin consolidation continues, and price movements were rather weak, as can be seen on the chart. The volatility for yesterday was only 2.2%, which is one of the lowest indicators in the last six months. The balance continues to hold.

The capitalization of the cryptocurrency market has not changed and is still $ 264 billion. And trading volume continues to decline: a fall from 52 billion to 45 billion.

Altcoin Performance and Bitcoin Price Outlook

Thirty-five coins from the top 100 showed a definite increase against the dollar over the past 24 hours. Topped this list Ren, which rose by 13%.

Well-known analyst Murad Makhmudov suggested that $ 10,000 for bitcoin is like the new $ 6,000, after which we can expect rapid growth.