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Data appears on the Bitcoin series, and Altcoins has witnessed a recent decrease in trading volume, a sign that the trader’s interest in the market is dwindling.
Trading volume with a decrease through the encrypted currency sector
In new mail In X, the Analysis Company discussed the Santiment series on how to change the trading volume of various assets in the encrypted currency sector.
The “trading volume” here refers to a scale of the total amount of the designated currency that has participated in trading activities in all stock exchanges during the past 24 hours. This scale should not be confused with “the volume of transactions”, which tracks the amount involved in transfers across the network, including counterpart deals to analogy (P2P).
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When the value of the trading volume increases, this means that investors participate in more deals in the stock exchanges. Such a trend means attention in the encrypted currency in an increase.
On the other hand, the indicator, which is witnessing a decline, indicates that merchants may pay less attention to the currency, as they reduce their moves.
Now, here is the chart that the analysis company shares that show the trend in the trading volume of Bitcoin and the various best altcoins during the past month:
As visible in the graph above, the volume of trading across the sector was peak at the end of last month, which means that investors were participating in a large amount of immediate moves related to bitcoin and the company.
The rise in commercial activity came when the prices of different assets noticed a decrease. In general, the market tends to be vibrant in volatile periods, where traders rush to panic, whether for sale or purchase. As such, the increase in the size of the logical.
Although fluctuations have lasted in the past two weeks since then, the size has a declining path instead. Certainly there are mutations deviating to the upward trend, but the general trend remained in the lower direction.
“When the trading volume is constantly decreased by the major encrypted currencies, even as minor prices (as we saw on Wednesday), it usually indicates a decrease in trading enthusiasm,” explains Santime.
Historically, price movements usually require a certain level of attention from investors to be sustainable. This is because only when there is a great deal of investors who trading that moves like this you can get the fuel they need to continue.
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Thus, with the sharing of the trader apparently to exhaustion, it is possible that Bitcoin and other assets are not able to collect any permanent recovery marches.
“To refer to a more healthy and more sustainable recovery, the bulls will generally want to see high prices and high sizes simultaneously,” explains the Analysis Company. “Until the trading activity increases useful, it is likely that the morale of the cautious market will dominate.”
BTC price
At the time of this report, Bitcoin is trading about $ 82,900, a decrease of more than 9 % last week.
Distinctive image from Dall-E, Santiment.net, Chart from TradingView.com
