Bitcoin’s trading volume started to recover after the decline in the past months.
The daily trade volume of Bitcoin ranged from $ 2-3 billion per day on average from late 2019 to 2020. Although BTC’s trade volume varied from day to day, these were not major changes.
The trading volume of Bitcoin was progressing stably that everything changed on March 12. Bitcoin has lost thousands of dollars on this date and has fallen to 4 thousand dollars. Meanwhile, many investors traded in the market to either lose more money or earn more money. As a result, a rare trade volume has been created. The volume of Bitcoin, which has an average daily volume of 2-3 billion dollars, almost tripled in one day.
It was not clear in what direction the market would move after this fall in bitcoin price. But if we look at the developments in recent weeks, we can say that the market has recovered faster than expected.
Bitcoin price has risen to $ 8,000 again today, the hash rate in the Bitcoin network has started to rise again in recent weeks, and the number of open positions in the futures market is increasing. Besides all this, the volume of Bitcoin is progressing very well.
The trading volume of Bitcoin dropped after the fall on March 12, but this was not as drastic as it was supposed to be. In fact, Bitcoin’s trading volume in the last weeks is much better than the weeks before March 12.