Michael van de Poppe, CEO and founder of trading firm Eight, commented:

“I suppose we will continue towards $22.5K from here, but we do have a slight correction before continuing (as we took all the liquidity). Buy the dip season.”

Annotated BTC/USD chart. Source: Michaël van de Poppe / Twitter
BTC was previously known for its lack of volatility and narrow trading range, which helped it beat out stocks even for the first time ever.

Yassine El Mandjra, crypto analyst at ARK Invest, referred to the company’s latest report, “The Bitcoin Monthly:”

“The last time volatility was low, bitcoin went from $9,000 to $60,000 in less than a year.”

Bitcoin vs. S&P500 vs. Nasdaq Composite Volatility Chart. Source: Yassin al-Manjra / Twitter
Meanwhile, Tyler Winklevoss, co-founder of trading platform Gemini, revealed that he believes that cryptocurrency markets will continue to serve as a leading indicator of the overall market path, as in 2021.

Crypto was the first asset class to crash; He will be the first to rise again, summed up.

Bitcoin is more stable than the major fiat currencies
Continuing the theme of low volatility, the ARK report, led by well-known analyst David Boyle, showed that it wasn’t just stocks being undercut by Bitcoin’s stability.

Related: Why is the cryptocurrency market soaring today?

“Bitcoin’s relative volatility has decreased not only for stocks, but also for major currency pairs. With the increase in macro uncertainty and the strength of the US dollar, forex pairs have been negatively affected while Bitcoin has been relatively stable,” Bitcoin Monthly reported:

“Bitcoin’s 30-day volatility roughly equaled that of the British pound and the euro for the first time since October 2016. Although Fed tightening could continue to be volatile, Bitcoin’s strength relative to FX is an encouraging sign.”