Posted 3/2/2024, 12:14:34 AM
Bitcoin Volatility Spikes to 11-Month High, Hints at Price Surge Ahead
- Bitcoin's implied volatility index reached an 11-month high of 73.6 on the last day of February
- This index measures bitcoin's expected price fluctuation over the next 30 days
- A reading of 73.6 implies an expected average daily bitcoin price change of 3.85% over 30 days
- The high reading comes after a volatile February when bitcoin neared $64,000, within 10% of its all-time high
- Some market observers predict bitcoin could reach a new all-time high in 2023 following the price surge
