Bitcoin trading volumes reached the level of January 2018
It seems that spring has begun in the cryptocurrency industry. Bitcoin trading volumes increased, reaching the level of January last year and the rate of the first cryptocurrency is at around $ 4,000.
In the past five months, Bitcoin trading showed a steady and steady growth, having increased from October 2018 by 150%. According to Kevin Rooke, a cryptocurrency commentator on Twitter, over the past year, daily Bitcoin trading volume has exceeded $ 10 billion a total of 9 times, and 5 of them this month. Most of the remaining cases recorded in February. That is, in recent months we have seen a significant increase in trading volumes.
In addition, analysts note that the increase in trading volume affected the price of the first cryptocurrency. The Bitcoin rate continues to hold the mark in the region of $ 4,000, and, although it is still too early to open the champagne, an increase in the volume of day trading should provide it with further support.
Tom Lee, co-founder and chief financial analyst at Fundstrat Global Advisors, said in an interview with CNBC the other day that the bitcoin trend would change to bullish in August of this year.
"I think 2019 is the year of Bitcoin recovery. Now the risks on the world markets have greatly increased and this is a positive factor for Bitcoin and cryptocurrency as a whole," he said.