Bitcoin Trading Volume Surges while Bullish Views Rampant in the Market

bitcoin

Bitcoin Trading Volume Surges while Bullish Views Rampant in the Market

As Bitcoin keeps on maintaining stability around $6,500, Bitcoin trading volume took a surge from $3.2 billion last week to $3.8 billion today. Meanwhile, crypto dog shares bullish sentiments for the entire crypto market along with DonAlt, Mati Greenspan, and Ran NeuNer.

Bitcoin Price Stable around $6,500, Trading Volume Surges

After days of no action, Bitcoin is finally seeing a surge in its trading volume as it reaches over $3.8 billion. Last week, the volume has been around $3.2 billion, registering a rise of about $600 million.

 

However, the price of the world’s leading cryptocurrency is still stable around $6,500. Today’s price range has been between $6,513 and $6,663. At the time of writing, Bitcoin has been trading at $6,590.

BTc price
Bitcoin 1-year price chart, Source: TradingView

Experts on Bitcoin Price Movement

Meanwhile, people are feeling bullish about the market, expecting it to start off a rally soon. Matty Greenspan, the senior analyst at eToro stated: “A strong breakout above the 200 Day Moving Average could easily flip sentiment from bearish to bullish for many crypto traders.”

While Crypto Dog shared on Twitter,

 

As for if Bitcoin hitting the bottom or not, he further shared,

“You may be right, $BTC hasn’t hit the final bottom. But why should anyone even care?

There is TONS of money and opportunity to be made in the $crypto markets whether you will at some point be able to buy Bitcoin cheaper than $6000.”

However, not just Bitcoin, he is bullish on altcoins as well as he comments,

“I see consolidation following a high volume bullish break out from a six month long falling wedge. Bullish as hell on $crypto and $ALTS.”

“The range that never ends. It’s getting tighter though and I suspect we’ll get a big move soon. Recent PA is stuck in the one big green candle. Be careful in both directions, I wouldn’t be surprised by big shakeouts before the real move,”.

Also, CNBC’s Cryptotrader host Ran NeuNer Tweeted about Bitcoin ready to explode:

 

As for the explanation, he shared,

“Last year, around this time, BTC went from $6691 (Nov 11) to $20000 (Dec 17) in 5 weeks. This on the back of the expectation and launch of a cash settlement BTC futures contract. An ETF is a way bigger deal & requires actual purchase of BTC.2 looming SEC decision deadlines ahead.”

Currently, investors, traders, and analysts all are seeing a breakout for Bitcoin but for now, we can only wait and see as to where will bitcoin move.

Do you think a rally is coming? Share your views with us by commenting below!

Summary
Bitcoin Trading Volume Surges while Bullish Views Rampant in the Market
Article Name
Bitcoin Trading Volume Surges while Bullish Views Rampant in the Market
Description
As Bitcoin keeps on maintaining stability around $6,500, Bitcoin trading volume took a surge from $3.2 billion last week to $3.8 billion today. Meanwhile, crypto dog shares bullish sentiments for the entire crypto market along with DonAlt, Mati Greenspan, and Ran NeuNer.
Author
Publisher Name
Coingape
Publisher Logo
View comments
Stan Peterson 103 Articles

Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.

Follow Stan @