Bitcoin posts September LOSSES as cryptocurrency trades in narrowest range ...

Bitcoin price newsBitcoin price news: September was the second consecutive month Bitcoin posted losses (Image: GETTY)

The narrow trading range, of just £984, meant volatility trends were significantly reduced throughout the month.

The news is a strong indicator the virtual asset may be about to find stability.

Like most cryptocurrencies, BTC is a typically volatile asset and sometimes experiences huge ranges in its price over very short periods of time.

In December 2017 BTC’s price more than doubled - reaching record highs of £15,244 per coin, only to plunge by 45 percent, and then rebound back to £11,000.

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September 2018 was therefore an unusually stable month for the digital commodity, as volatility trends plummeted to their lowest point since July 2017.

Bitcoin’s exact price range over the course of September was between £4,699 and £5,683.

Its average trading volume was also down in September 2018 as it hit its lowest point since April 2017.

BTC's volatility has continued to reduce, with its 30-day volatility standing at 2.5 percent, XBT reports.

Bitcoin price newsBitcoin price news: Bitcoin is the most popular cryptocurrency (Image: GETTY)

The combination of low volatility and low trading range is a key indicator that Bitcoin’s price could be significantly affected in either a bullish or bearish direction.

Given that September trading was one of the lowest range movements in more than a year, BTC could be on the brink of a vast price swing.

The leading cryptocurrency has registered its second straight month of losses after opening the Asian markets 6.64 percent down compared with the start of the month.


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