Bitcoin’s spot trading volume has increased more than 50 times in the past 4 years.
The price of Bitcoin ranged between $ 400-600 until 4 years ago. At that time, the trade volume of Bitcoin was much lower than it is today.
According to data from CryptoWatch, Bitcoin’s monthly spot volume in 2016 was around $ 500 million on average. This number reached the highest level of the year in June 2016 and reached up to 1.5 billion dollars.
When we look at the present, we see that this number is tens of billions of dollars. The average monthly trading volume of Bitcoin in January-April was $ 28 billion. This obvious difference between 2016 and 2020 can be clearly seen in the table above.
How has the Price Changed?
In these four years, Bitcoin reached larger masses and started to be used by many more people. As a result, Bitcoin price has surely increased.
Bitcoin price is still far from the $ 20,000 level seen in December 2017, but much higher than in 2016. Bitcoin had its second halving on July 9, 2016. In the chart below, you can see the price of Bitcoin on this date.
A halving took place yesterday after a four-year break, and the price of Bitcoin is now in the range of $ 8600-8 thousand 700. This indicates a 1300% increase in price.