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Bitcoin’s volatility is now at its lowest level in more than a year, signalling a likely bottom, futures broker Bill Baruch said in an analysis for CNBC Monday, June 18.

The Blue Line Futures president noted that after the leading cryptocurrency lost as much as 70 percent in value since its peak in December 2017, Bitcoin’s (BTC) decreased volatility is a signal that “selling has become exhausted”:

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Baruch attributed Bitcoin’s soaring value in December to the launch of Bitcoin futures contracts on CME and CBOE, with “tremendous speculation and the fear of missing out” causing prices in the cryptocurrency sector to “sky-rocket too quickly.”

The subsequent sell-out has now “wiped out most, if not all, of read more….