Bitcoin has seen record-breaking trading volume over the past 3-4 months! Based on a monthly time frame, Bitcoin has never seen this much trading volume. Last month had the most selling volume on record, and this month has the most buying volume in history. So you have a better visual concept of the trading volume, I have a screenshot of the current Bitcoin price and volume here:
Look at the large yellow arrow. It points to the recent Bitcoin volume of trading. The tall red line shows Bitcoin’s record selling month, and the current elevated green line shows the current record buying month. Based upon this month, we had more consumers buying Bitcoin than when Bitcoin was even at its recent all-time high. Maybe this is a sign of Bitcoin being at the bottom; maybe it’s not! The volume indicator is just another tool to add to your arsenal of trading tools. Nothing stated within this article is financial advice. Trade at your discretion!
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Written by: Matt Senn