In early April, Bitcoin collected nearly $ 1,000 in a matter of hours. The powerful movement was enough to drag the entire crypto market with it, including Ethereum, Ripple and Litecoin.
A meeting, which, in the opinion of many, confirms that the current bear market now belongs to the first picture of cryptography. The above higher prices on charts, saw the volume of trades through Bitcoin and Ethereum, that the volume reached the levels, is not observed from the peak of the last cryptographic bull market. Bitcoin and Ethereum Trading update 2017 levels
Trade volumes often fall during a period of indecisiveness, but volume may also decrease as trends begin to lose their pairs. Only when the main movement is taking place, volumes begin again, often confirming the continuation or reversal of the trend, depending on the direction in which the movement moves.
Throughout 2018-2019 gg. Volumes decreased steadily. She started climbing down to $ 6,000, but quickly dropped to a low level.
Following the record for the longest bear market for Bitcoin, the main trend has changed during the rallies last week, which led to a Bitcoin price drop from $ 4200 to $ 5200 in a matter of hours. The powerful movement has also led to a significant increase in the volume of trades, confirming that this step is genuine, and that a change in the trend may be a reality. Some indicators indicate that the reversal should be legitimate, but the bears have not yet been abandoned, as can be seen from the last retreat.
The volume of crypt in the last leg was as high as in the bubble of the peak of 2017 pic.twitter.com / atpFX8CLqF
– Camila Russo (@CamiRusso) April 11, 2019
This increase in trade volumes in both Bitcoin and Ethereum has reached levels that have not been observed since 2017, when the cryptographic currency became parabolic and took the mainstream storm. At that time, the media charmed retail investors in cryptographic exchanges trying to hit its rich Bitcoin and its cousins altcoin
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It is worth noting that the data of former financial journalist Bloomberg Camille Russo was from CoinMarketCap, which was recently put under a microscope due to statements of mistakenly overestimated volumes of trades. Although the validity of these claims is valid, the comparison is based on preliminary data from CoinMarketCap, so sample data should reflect similar levels of trade, including detergent trading.
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