Fundstrat Sees Up to 30% Swing Coming for Bitcoin Price

Wall Street research firm Fundstrat Global Advisors has forecasted that Bitcoin's price is due for a significant swing. According to Sean Farrell, head of cryptocurrencies at Fundstrat, this swing could be as high as 30% up or down.

In analyzing eight episodes of low volatility in the past, Fundstrat found that the median price move over the following 60 days was 30.2%. This suggests that a larger move is overdue.

Farrell notes that four out of these eight instances ended in gains and four ended in losses, indicating no bias towards an upward or downward trend.

The current price of Bitcoin is around $64,000 U.S., and a 30% swing would put it at either $83,200 on the upside or $44,800 on the downside.