Bitcoin’s Volume Lowest Since BTC Got Down To $4,000: Analysis

Bitcoin’s volume lowest as Saturday seemed to be an extremely quiet day for the leading cryptocurrency and the broader crypto market.
buy viagra soft generic buy viagra soft online no prescription

Alameda Research and CEO Sam Bankman-Fried who is a popular crypto trader stated that this might be the ‘’lowest volume and volatility day the crypto industry has seen in a long time.’’

In our Bitcoin news today, we take a closer look at the price analysis of the leading cryptocurrency and some say that this low-volume trend shows there could be an impending breakout that could decide the medium-term future of the entire crypto asset market. Let’s take a closer look at some of the statistics. Over the past 24 hours, some of the major derivatives exchange BitMEX saw about 86,000 BTC which is less than $1 billion worth of volumes traded.

This is considered to be Bitcoin’s volume lowest point seen on the exchange in all of 2019 and the lowest level since November 2018 which was the month where a few days before, the price of the number one asset started collapsing from $6,000 to $3,000. BitMEX also saw the pain of the Crypto Winter and Block’s Steven Zheng recently noted that ‘’Coinbase seeing the lowest daily trading volume in months, logging in at $57 million.’’ He added that the metric ‘’was this low back in March.’’

What is most noticeable about March, this period preceded Bitcoin’s sudden surge at the beginning of April from $4,000 to $5,000 which is when the price got into the rally that bought the crypto price to $14,000. Some of the other indicators suggest a lot of volatility and according to the latest reports from NewsBTC, the one-week Bollinger Band Width indicator which shows that the width between the highest and lowest Bollinger Bands which is a very useful tool to determine ranges that suggest a huge Bitcoin move on the horizon.

Currently, the indicator is at 0.42 is a long-term level of non-volatility and the last time this indicator got in touch with the BBW range in late March which is only a week before the leading cryptocurrency price shot from $4,000 to $5,000 in the shocking move that boosted the year’s micro bull market.