A recent analysis addressed the issue around BTC's volatility and how May-July 2020, 2021, and 2022 have been similar in terms of BTC's volatility trend.
An analysis of Bitcoin’s price action between May to July 2020, 2021, and 2022 revealed something worth noting. There was a drop in volatility within those three months in each of those years, followed by a noteworthy rally. So far things have turned out somewhat similar this year considering the currently low volatility.Investor sentiment has also been on an overall downward trajectory during the last four weeks.
There is a lot that determines Bitcoin’s price outcome. For example, BTC was still experiencing bullish volumes which means there was still some level of confidence in the market. Its on-chain volume went up slightly in the last four days.We know it was predominantly bullish volume initially because Bitcoin’s marketcap went up by as much as $21 billion between 12 and 18 May.
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