Bitcoin

<ul><li>Bitcoin&#39;s value has sunk to a two-month low, raising alarm bells across the crypto landscape.</li><li>A renowned Bloomberg analyst sees hope amid the cryptocurrency&#39;s current slide, with potential for a rebound.</li><li>Mike McGlone suggests that Bitcoin&#39;s record-low volatility could signal an impending price surge.</li></ul>In a recent twist of events, Bitcoin prices have tumbled to a nearly two-month low, sending ripples of concern through the crypto market. However, amidst this downturn, a prominent Bloomberg analyst points to a silver lining on the horizon for the leading cryptocurrency.Mike McGlone, a senior Macro strategist at Bloomberg, has taken to Twitter to expound on his analysis of Bitcoin&#39;s potential rebound. In an intriguing graphical representation, he shows that record-low volatility may herald an eventual resurgence, leading to a likely price pump.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/804f0926d34d4ab981b14ae9c247951b.png" />One of the most striking revelations lies in the 180-day volatility, which nosedived to an astounding 46% on August 16, marking an unprecedented low. McGlone emphasizes that this dramatic decline in volatility is further magnified when comparing Bitcoin&#39;s behavior to traditional stock indices since the beginning of the year.McGlone postulates that Bitcoin&#39;s volatility could stage a resurgence, especially if the S&amp;P 500 takes a divergent path and experiences a decline. This theory stems from the observation that market volatility often escalates when the S&amp;P 500 retraces.Despite Bitcoin&#39;s recent price drop, its evolving role as digital gold remains a driving force. Interestingly, Bitcoin&#39;s volatility, while around three times that of the precious metal, still has room to decrease. McGlone draws attention to the fact that Bitcoin once traded at ten times the risk of gold in 2018, underscoring the cryptocurrency&#39;s maturation over time. Bitcoin&#39;s <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">value </a>is $26,438, marking a 7.13% decline over the past 24 hours, according to CoinMarketCap.Read full article at<a href="https://cryptotale.org/bitcoin-braces-for-potential-turnaround-amid-historic-lows-in-volatility/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Bitcoin Braces for Potential Turnaround Amid Historic Lows in Volatility

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