Bitcoin (BTC) began the month of March a little over $3,850 and despite a drop below this position to find support at the $ 3,750, Bitcoin has remained above $3,850.
Around mid-March, the crypto leader climbed above 4,000 but only to find resistance around the $4,090 position, where it continues to struggle breaking through.
So, clearly, March has proven to be one of the most stable months for the coin. In fact, according to Dow Jones Market Data, Bitcoin is on track to record a new record. Bitcoin according to this data could mark the least volatile month in its history.
Volatility for Bitcoin in March stands at 7.8% and should the month end at this, it would be a new record for the asset. Back in 2017 when Bitcoin was recording its all-time highs, Bitcoin was recording monthly ranges of 100%.
During the last couple of weeks, it has been noted that Bitcoin has been making moves during the weekend and according to crypto trading analyst Luke Martin, “playing dead” during the week. The last weekend, however, was an exception as Bitcoin showed as much stability as stable coins.
Sign Of Mass Adoption To Come?
In the past, among other things, analysts such as Nouriel Roubini, have criticized Bitcoin for being volatile. According to such analysts, this has made it difficult for the asset to be massively adopted. So, is this a sign that the asset is ready for mass adoption?
While this stability could see Bitcoin attract a few skeptics who have always been wary of its volatile nature, its stability is not expected to boost its price movement immediately. However, by attracting more investors through adoption, Bitcoin could steadily move upwards.
Bitcoin (BTC) Price Update
At the time of press, Bitcoin has had a surge of around 3% seeing prices get back above $4,000, a key support position it had dropped below earlier in the week. By getting back above it, Bitcoin is now set to record a three-week positive spell.
This current trend according to Mati Greenspan, senior market analyst at eToro, signals the end of “crypto winter”. This remains unproven with analysts saying that the real test will come at the $4,200 position.
