Bitcoin Finds Stability at $6,400: Will BTC Fail to Recover by 2018’s End?
Over the past 11 days, the Bitcoin price has remained stable in the range of $6,300 to $6,500, struggling to initiate a major movement on the upside.
The volume of Bitcoin has declined substantially over the last 72 hours from $3.6 billion to $3.1 billion on CoinMarketCap, by nearly 20 percent.
Trading activity in the cryptocurrency exchange market has generally subsided, as investors have started to avoid taking high-risk, high-return trades in a period of uncertainty.
Support and Resistance Merging: Where is Bitcoin Headed to Next?
Since early August, for nearly three months, Bitcoin has shown a record high level of stability. The dominant cryptocurrency has not seen such a low level of volatility spread out across several months in recent history, even during the aftermath of the 2014 correction.