Bitcoin and Ethereum Trading Volume Reaches Crypto Bull Run Peak Levels

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Is The Bull Run Back? Bitcoin and Ethereum Trading Volume Revisit 2017 Levels
Ever since Bitcoin’s parabolic advance was broken at the tail end of 2017, its all-time high of $20,000 has become a distant memory, and bullish sentiment and general interest has all but left the crypto market. As less investors and traders flocked to the crypto space, trading volumes across top crypto projects has diminished significantly.

Related Reading | Crypto Analyst: Higher High In Bitcoin Price Confirms Bear Market Bottom Is In

Trading volumes often drop during period of indecision, but volume can also drop as trends begin to lose their steam. It’s not until a major movement occurs, that volumes begin spiking again, often confirming a trend continuation or reversal, depending on which direction the movement goes.

Throughout the 2018-2019 bear market, volume has continually diminished. It began to ramp up during the fall through $6,000, but quickly dropped back to the low levels.

Following the longest bear market for Bitcoin on record, a major trend change occurred during last week’s rally, that took Bitcoin price from resistance at $4,200 to $5,200 in a matter of an hour. The powerful movement also brought with it a significant surge in trading volume, confirming that the move was genuine and that a trend reversal may be a reality. Certain indicators suggest the reversal to be legitimate, but bears have yet to give up as is evident in the latest pullback.

Read more: https://www.newsbtc.com/2019/04/12/bitcoin-ethereum-crypto-bull-run/