[ad_1]
Bitcoin (BTC) and the cryptography markets continued to express increasing stability and have not yet recorded any significant price movements, while it was a big deal. a weekend trading session with less than average trading volume.
It is important to note that Bitcoin and the aggregated markets have experienced a steady decline in trading volume over the past seven days, which could indicate that markets are preparing for strong price fluctuations in the near future.
Bitcoin (BTC) advances slowly beyond $ 5,100 as volume decreases
At the time of writing, Bitcoin is trading slightly higher at its current price of $ 5,115, up from its low of $ 5,050 over 24 hours. It is important to note that BTC is currently trading at its daily highs, but lower trading volumes could jeopardize the strength of any further upward movement.
Bitcoin's trade volume is currently less than $ 10 billion, down from the weekly peak of nearly $ 20 billion. This decline in volume could lead to greater volatility in the near future as BTC appears to be forming a consolidation pattern around its current price levels.
Overall, the cryptography markets have also experienced a decline in trading volume over the past week, falling to just over $ 30 billion after peaking at over $ 60 billion. in seven days.
Analyst: BTC should continue to dominate the short-term cryptography markets
Josh Rager, a popular cryptocurrency analyst on Twitter, has contrasted the Bitcoin chart and the crypto-market's global market capitalization chart in a recent tweet, explaining that he was turning to the BTC chart to evaluate possible transactions, as it currently dominates most markets.
"Therefore, when it comes to market forecasts, I first look at the Bitcoin chart before major investments and transactions (it accounts for more than 50% of the MCAP atmosphere). Then look for Ethereum, followed by the altcoin graph / volume (ETH graph sometimes as it may lead to Alts but not always,), Rager explained.
Therefore, as far as market forecasts are concerned, I first look at the Bitcoin chart before investments and serious transactions (it accounts for more than 50% of the MCAP atm)
Then look for Ethereum, followed by altcoin / volume cards (the ETH card is relative at times because it can guide Alts but not always).
– Josh Rager ? (@Josh_Rager) April 14, 2019
In addition, Rager later explained that the increase in the total market capitalization volume of the cryptographic market last week did not appear to be optimistic, but that individual investors and traders were showing renewed interest in the markets. .
"Currently, do not see the extreme uptrend in the record volume of Total MCAP, given the record number of crappy pieces on the market along the BTC with a 54% dominance. But this shows a renewed interest of investors / traders, "he explained.
At present, does not see the extreme uptrend in record volume established by Total with MCAP, given the record number of crappy pieces in the market along the BTC market with a 54% dominance.
But this shows a renewed interest of investors / traders
Some will disagree and this is only my opinion
– Josh Rager ? (@Josh_Rager) April 14, 2019
At the dawn of a new trading week, traders and investors will probably have a better sense of where the markets will go as their trading volume picks up.
Selected image of Shutterstock.
[ad_2]
Source link