Monday's decline in Bitcoin's price is a stark contrast to its stability in the past six weeks since March 20. Moving at a very low range of only .002 percent, the Relative Strength Index of Bitcoin even dropped by 8 percent during the same period. The excitement seen during the 7 percent increase week beginning April 10 and the 9 percent decline week beginning April 11 were shortlived as the market lacks catalysts to move the asset.

Moreover, the Average True Range of Bitcoin fell by 65 percent year-to-date even with its soaring 75 percent price increase. This suggests that Bitcoin is expected to remain relatively stable barring any external disruptors. There are certain concerns regarding the Securities Exchange Commission's stance towards crypto and the potential legislation, but so far, these have not affected the Bitcoin market.

Surprisingly, despite its reputation, Bitcoin is not without a lack of volatility. In fact, the past two months have shown that the cryptocurrenct has managed to maintain a steady movement despite the usual spurts of rallies and drops. However, it is important for investors to remain mindful of any potential impacts that may happen in the future, as nothing much is certain in the constantly evolving cryptocurrency industry.



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