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Traders say Bitcoin is due for highly volatile price action in the near-term as the price approaches a pivotal point.
Bitcoin fell to $8,900 because of whale activity Whales — who own immense amount of Bitcoins — closed their positions,
A strong correlation with stock market movements still leaves room for Bitcoin to test five figures, says trader Michaël van.
For instance, volatility hit a low of 35% on Sept. 21, 2019, and in the following three days, the cryptocurrency fell by.
Analysts expect Bitcoin to see a "significant retracement" if the cryptocurrency falls below the crucial $8,600 support in.
Whatever direction Bitcoin decides to go, many analysts are predicting high volatility in the entire crypto market.