2022 Kicks Off With A Big Drop In Bitcoin Trading Volume
We are only a few days into the new year but BTC trading volum is at its lowest in five months . On the upside , there is cheap Bitcoin out there with the price under $ 46 K right now .
2022 Kicks-Off With A Big Drop In Bitcoin Trading Volume
” As per the latest weekly report from Arcane Research, the year 2021 has ended with a plunge in the BTC trading volume.
The “daily trading volume” is an on-chain indicator that measures the total amount of Bitcoin that was transacted on any given day.
When the value of the metric rises, it means trading activity on the BTC chain is going up as more investors move their coins.
High values of the trading volume have usually been ideal for sustaining any big movements of the price. In the past, there have been several occasions where Bitcoin tried to make a jump, but chain activity didn’t light up in tandem. Such moves have generally failed before long.
On the other hand, when the indicator’s value goes down, it implies there isn’t much trading activity currently going on in the network. This may show that investors aren’t very interested in moving their coins at the moment. ”