Bitcoin Volume Explodes as BTC Targets $35,000

[MUGNIA]

2021 is starting off great for Bitcoin as it continues to break new all time high prices.

Now, as the price of Bitcoin closes in on $35,000, we are reaching massive volume levels that have barely been seen before. In the past 24 hours, Bitcoin is up about 15 percent. However, it is the increase in volume that is shocking. According to CoinMarketCap, the largest online cryptocurrency market capitalization aggregator, Bitcoin volume has increased by almost 104% in the last 24 hours. This is momentous, as this increase in volume on top of major price growth is an extremely bullish sign for the world’s largest cryptocurrency.

What is causing this massive volume spike?
One of the most interesting factors to this sharp increase is that there is no immediately identifiable catalyst. Since the beginning of the new year, Bitcoin is already up over 20 percent. However, Bitcoin was already seeing daily/weekly all time high prices before 2021 even started.

One possible reason for this price increase is FOMO, or fear of missing out. Since the rise of Bitcoin is becoming mainstream news globally, investors and speculators may feel that if they do not purchase Bitcoin now, they will continue to miss out on massive price gains.

One point to consider is that this overnight volume increase took place from a Saturday to a Sunday. Thus, it is possible that institutional investors and their employees were not working. That leaves this volume increase up to retail investors.

more : https://beincrypto.com/bitcoin-volume-explodes-as-btc-targets-35000/

will that target be achieved in the week 1-2 this month What do you think