Topic: Bitcoin trading velocity constantly rising since December. - page 2. (Read 324 times)
People were taking advantage of investing crypto coins (not just of bitcoin alone) since prices are still in cheap. It is really a good start for everyone and thinking a huge profit once market shows bull run. If we can imagine, the recent price is a little bit high than of December, it this means that if we buy Bitcoin last December absolutely we are gaining right now..
Yes I have noticed this since the beginning of the year and that's is why I concluded that there would be a bull run in the price of bitcoin in no time, I know the price hasn't been increasing lately but I am sure that within the next 2 months there would be a significant increase in price that might go to as high as $5500, then we should begin to see a break in price after then that might drive the price of bitcoin to $10,000.
Don't worry, it won't and since most everyone was speculating while making a new conclusion that would create a new FUD just because they say. I believe it won't matter since there are whales and we got a lot of people adapting Bitcoin just by looking at that source. A $2k might be possible but $1k+ is too far from the truth.
Many of us believed already that Bitcoin will survive after all of this bearish trend and those who quit is not our concern since they were too naive to think Bitcoin would really die just because someone said it.
Blockchain technology will survive, there is so much adaption going on.
It is not necessary that bitcoin survives, there are other cryptocurrencies
Bitcoin is already dead many times as what other said but until now bitcoin still survive and I think there are many people right now entering on the crypto and developing crypto.
More stores accept bitcoin as payment this coming months that I think well help bitcoin to survive and become indemand again as what happen last year.
We will see bull market again with bitcoin because the blockhalving is coming.
Don't worry, it won't and since most everyone was speculating while making a new conclusion that would create a new FUD just because they say. I believe it won't matter since there are whales and we got a lot of people adapting Bitcoin just by looking at that source. A $2k might be possible but $1k+ is too far from the truth.
Many of us believed already that Bitcoin will survive after all of this bearish trend and those who quit is not our concern since they were too naive to think Bitcoin would really die just because someone said it.
Blockchain technology will survive, there is so much adaption going on.
It is not necessary that bitcoin survives, there are other cryptocurrencies
In the middle of this, someone predicted that we will see new low ($2k or $1.8k) after we break the $4.2k resistance. I don't know how they arrive at that conclusion but I'm pretty sure if the momentum keeps on going like this, that would likely never happens.
Don't worry, it won't and since most everyone was speculating while making a new conclusion that would create a new FUD just because they say. I believe it won't matter since there are whales and we got a lot of people adapting Bitcoin just by looking at that source. A $2k might be possible but $1k+ is too far from the truth.Many of us believed already that Bitcoin will survive after all of this bearish trend and those who quit is not our concern since they were too naive to think Bitcoin would really die just because someone said it.
Means how actively the coin is being traded
I think so too. From the chat, the volume of trade recorded even when price was up there is quite high. People never expected this crash and I believe that is one reason "unbelievers "
are more like selling off what they have. No idea what velocity is that you're talking about (volume?)
Velocity is a percentage (%) of available supply being traded in the given timeframe (e.g. 24h).
Means how actively the coin is being traded
In the middle of this, someone predicted that we will see new low ($2k or $1.8k) after we break the $4.2k resistance. I don't know how they arrive at that conclusion but I'm pretty sure if the momentum keeps on going like this, that would likely never happens.
No idea what velocity is that you're talking about (volume?), but it is indeed true that volume's risen since BTC nosedived off $6k and failed to make a quick recovery in late November. There's been plenty of volume on exchanges recently, more than before we dropped from $6k though there've still been some days where volume has slumped a bit like Mar 2 for example.
Alts also seem to be leading BTC upwards recently and just might be what leads BTC towards and past $4000 soon. LTC's back at Feb 22 prices and is trying to break $55 (Finex price) yet again, perhaps successfully this time, and ETH also helped lead us up and out of the low $3000s we were in earlier in February. Pretty interesting considering BTC was mostly leading alt price movements until recently when things seem to have flipped.
Alts also seem to be leading BTC upwards recently and just might be what leads BTC towards and past $4000 soon. LTC's back at Feb 22 prices and is trying to break $55 (Finex price) yet again, perhaps successfully this time, and ETH also helped lead us up and out of the low $3000s we were in earlier in February. Pretty interesting considering BTC was mostly leading alt price movements until recently when things seem to have flipped.
Also with an increased volume on exchanges and not that much push happening on the price, it could only mean that people are already accumulating a lot of coins in their arsenal, which could signify a push that is just around the corner.
I'm not really sure if a push is around the corner considering that an accumulation phase could take much longer than people expect, but the boost in volume is quite a positive signal. In the end, volume = interest, and interest is what we need to bump whenever we're ready for it.
I do expect a few more $4000-$4200 tests before we break it for good considering that we're in an ascending triangle and do the same thing we did last year, but then in the opposite direction within a descending triangle. Last year we were continuously testing the flat support level, this year we're continuously testing the flat resistance level.
If you test the same support/resistance levels over and over again, they'll break, and in this case I expect it to be a positive break.
This just shows that somehow, there is some form of acceleration going on within the interests of people in the said cryptocurrency. And it's a good thing seeing that we've got nothing but lows and lousy trading action for the past year. Also with an increased volume on exchanges and not that much push happening on the price, it could only mean that people are already accumulating a lot of coins in their arsenal, which could signify a push that is just around the corner. I'm eager to know how will things develop in the next coming weeks, assuming that this turns out to be a positive indicator for the market.
Bitcoin rarely has this much activity. If you look at the graph, it is being traded more and more since December 2018.
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