Bloomberg analysts in the “Cryptocurrency July Outlook” report analyzed multiple factors for Bitcoin’s future bullish scenario.
The following 4 points are the main factors:
1. Volatility decline
2. Rising demand
3. Grayscale GBTC premium decline
4. Address increase
The report predicts that bitcoin volatility will continue to decline. He pointed out that it is changing from highly speculative assets to a “digital version of gold”.
McGlone estimates that price compression due to lower volatility will eventually be resolved by breakouts and continued growth.
Specifically, Bitcoin’s year-to-date volatility has reached historically low levels relative to the stock market, gold and crude oil. The volatility of Bitcoin is still about twice as high as that of the US representative stock index Nasdaq, but it has decreased significantly from the previous seven times.
Thus, the volatility of Bitcoin is approaching gold. According to the report, “currently volatility is undergoing a mean reversion (mean reversion), so it is likely that the company will be bullish in the future.”
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