Bitcoin has been trading sideways for almost a month now, with the bitcoin price dropping sharply at the end of September from its previous plateau of around $10,000 per bitcoin. The bitcoin price has been hovering around $8,000 since the hotly-anticipated Bakkt bitcoin trading platform went live with underwhelming volumes. Now, it seems the bitcoin price, which has dropped by almost 50% from its year-to-date high of $14,000 per bitcoin, might be about to make a major move. NurPhoto via Getty ImagesEarlier this week, a closely-watched bitcoin technical indicator showed the bitcoin and cryptocurrency market could be poised for a sudden price swing, though it's not clear which way it will go. Elsewhere, bitcoin trading volume among the top ten biggest bitcoin and crypto exchanges has fallen to under $200 million a day, according to bitcoin and crypto data company Messari, down 20-fold from a peak of $4 billion per day just a few months ago.

Source: Forbes October 23, 2019 03:00 UTC