Bitcoin Sets 24-Hour Trading Volume All-Time High, Nearly Double Last Crypto Bull Run

Bitcoin Sets 24-Hour Trading Volume All-Time High, Nearly Double Last Crypto Bull Run
фото показано с : newsbtc.com

2019-6-29 23:00

All this week, Bitcoin price action has been heating up, bringing traders the most volatility seen since the last bull run. The price of the leading crypto asset by market cap violently bounced back and forth between $10,500 and $13,000 for much of yesterday after it was rejected at overhead resistance at $14,000.

These movements represent over 20% price swings either way, and offer experienced or lucky traders the opportunity to grow their capital or BTC stacks by buying and selling the massive price swings. This opportunity and trading activity has led to Bitcoin setting a new all-time high, not in price, but in 24-hour trading volume – nearly doubling the volume saw at the height of the last bull run.

Bitcoin Sets Record High in Trading Volume As $44 Billion Changes Hands in 24 Hours

Volume increasing shows that a trend is strengthening, and yesterday’s history-making, record-breaking trading volume in Bitcoin markets could be a sign its about to embark on the greatest bull run the world has ever witnessed.

Related Reading | Bitcoin Price Action: Volatility is Back in a Big Way, Tom Lee Says To Buy and HODL 

It’s already steadily outperformed the stock market, painted one of the strongest monthly reversal candlestick formations ever that analysts say “should never be ignored,” and has risen 300% since it’s December low. Now, it’s set an all-time high in 24-hour trading volume according to CoinMarketCap.

Bitcoin just set a new all-time record in 24H volume: 42 billion USD

The highest volume recorded during the bull run of 2017-18 was 24 billion

New money entering the market

The parabolic rise of crypto hasn't even begun. It's just getting started

Long Bitcoin. Long Blockchain pic.twitter.com/0O5MD7ZQ6S

— Misha Lederman (@mishalederman) June 27, 2019

Blockchain startup advisor Misha Lederman says that this is a sign that “new money” is entering the market, and that the “parabolic rise of crypto hasn’t even begun.”

It’s just getting started, he added.

Comparing Yesterday’s Record High Volume to The Previous Crypto Bull Run

While Lederman’s tweet shows a 24-hour high of $42 billion in trading volume, CoinMarketCap closed the day at just under $44 million.

During the last bull run, trading volume peaked out at $24 billion, which means that yesterday’s fireworks almost doubled the highest point of the previous bull run – when Bitcoin took the mainstream public by storm and caused widespread FOMO that created a bubble.

While Lederman didn’t outright say it, his “just getting started” comments could be in reference to how shortly ago Bitcoin was setting lows, how high Bitcoin could potentially go, or the fact that interest in Bitcoin thus far hasn’t even come close to levels saw at the last bull run if Google Trends is to be considered – even despite trading volume showing that trading interest itself has increased.

Related Reading | Bitcoin’s First Full Market Cycle Ends With $3T Cap, $150K BTC, and Major Attack 

Of course, the argument can be made that CoinMarketCap trading volume has been an unreliable metric due to all the false reporting, but the company has only taken more steps recently to shed that stigma, and it’s likely that less protective measures were in place during the last bull run. This means that no matter how you slice it, Bitcoin is setting new highs in trading volume, and volume precedes price – a new all-time high in Bitcoin is at this point just a matter of time.

Featured image from Shutterstock, Charts from CoinMarketCap

The post Bitcoin Sets 24-Hour Trading Volume All-Time High, Nearly Double Last Crypto Bull Run appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66183.01 (-0.11%)
Объем 24H $30.794b
Изменеия 24h: -0.25 %, 7d: 4.63 %
Cегодня L: $65194.83 - H: $66400.52
Капитализация $1303.773b Rank 1
Цена в час новости $ 12302.5 (437.96%)

run bitcoin crypto price 24-hour sets high

Источник: newsbtc.com

run bitcoin → Результатов: 126


Bitcoiners Organize #RunForHalFinney Memorial Run for Early Bitcoin Developer, Hal Finney, on Sep 6

Five years on from the untimely demise of Hal Finney, a pioneer in Bitcoin development, the community is planning a run in remembrance of him on Friday, 6th September 2019. Bitcoin enthusiasts are urged to join the run through posting pictures of their run on social media using the tag #RunForHalFinney. Hal Finney, Pioneer in […]

2019-9-4 20:36


Bitcoin’s [BTC] present bull run is significantly different than its last bull run in October 2017, reports Twitter user

The cryptocurrency market is often significantly volatile. The ecosystem is always one flash fall or price hike away from growth or bust. The bearish winter took its toll on Bitcoin [BTC], the world’s largest cryptocurrency, and the market witnessed a devastating fall during the price decline of early 2018.

2019-4-4 09:30


Фото:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

2018-7-21 23:03


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

CEXs saw record-breaking trading volume as Bitcoin touched ATH

On Mar. 5, Bitcoin reached the all-time high it posted in November 2021, breaking through $69,000 in the late afternoon UTC. However, Bitcoin’s stint at its ATH was extremely brief and was quickly followed by a sharp 14% correction that pushed its price down to $59,300.

Binance.US Hit Hard: Trading Activity Tanks 98% Amid SEC Squabble

Binance. US finds itself grappling with an array of difficult obstacles, each of which has contributed to a notable downturn in its trading operations. These unforeseen obstacles have collectively cast a shadow over the platform’s once-vibrant trading landscape, prompting concerns about its sustained viability in the market.

Centralized exchanges grapple with declining trading volume

Bitcoin’s narrow trading range and lack of liquidity have considerably impacted centralized exchanges. Given their importance for the market, analyzing volumes across centralized exchanges is becoming instrumental in gauging crypto market sentiment.