Several important stock exchanges of the Bitcoin Trading volume seems to be decreasing lately. The dwindling numbers of traders who purchase the digital Asset and sell has led market analysts to describe the Situation as “gloomy”.
In a long Twitter Thread, Senior Market Analyst, Mati Greenspan eToro (@MatiGreenspan) highlights this Morning, the significantly reduced number of Bitcoins, the change in the last time, on different exchanges, the owner. His Position is based on volumes of the ten most important Digital Asset exchanges, the gloomy development of the Bakkt platform since its launch, CME Futures contracts and the Peer-to-Peer Trading platform Local Bitcoins.
On the top 10 exchanges, bitcoin has traded less than $200 million. This is from data compiled by @MessariCrypto. During the peak a few months back, this number is easily reached $4 trillion. pic.twitter.com/7FsNBZpivA
— Mati Greenspan (@MatiGreenspan) 15. October 2019
Contents
Declining Trading Volumes
According to Messari Crypto the 24-hour Trading volume is up to ten leading stock exchanges, in the meantime, close to 190.5 million U.S. dollars. Although Bitcoin has the highest Trading volume of all Non-stable coins, the real volume of the Tether, this figure completely in the shadows. The Trading volume of the controversial, supposedly dollar-backed Assets should be Slippers 530 million dollars. Greenspan reminds his followers to the fact that it is during Trading peaks at the beginning of the year, unusual in that bitcoin Trading volume exceeds 4 billion dollars per day.
The data of the Messari is not exclusively derived from stock exchanges, which have a report of Bitwise according to “authentic Trading volume”. Background: Many Trading platforms are suspected to be exaggerated in the Trading volume, the attractiveness of their platform for Altcoin-increase projects. If you report large quantities, you can request for inclusion on the platform.
Another source for the “dark” Trading volume of the newly introduced Bitcoin Futures of Bakkt are. The much-vaunted platform went live last month live, but has proved much less popular, as many people had hoped.
Also, the decline of the local bitcoins volume, a popular OTC Bitcoin exchange, is fuel to the fire of the naysayers. Greenspan writes that the Numbers were the lowest in the Peer-to-Peer marketplace in the last week in August 2017.
A positive future for Bitcoin
Although Greenspan called the current Trading volume as “dark”, he doesn’t seem to worry too much about Bitcoins future. The Analyst highlights the decline of the Bitcoin derivatives exchange BitMEX as a sign that the short-term speculators are making for the time being slowly – what a wild start to the year positive.
Another bullish sign for bitcoin’s future, the Hash Rate is. How Coin-Update.de has already reported, the network is supported by more computing power than ever before. Greenspan’s Conclusion:
“… the Miner are clearly confident.”
In spite of the strong decline in the Trading volume of exchanges and platforms in the industry Bitcoin 2019 is still one of the most powerful systems. Greenspan, such a stability after the explosive start to the year, with the Bitcoin in just a few months of around $ 4,000 to nearly $ 14,000 has increased is welcome.
For the analysts, all these data suggest a:
“Bitcoin is not dead. He only makes a break.“
Text Evidence: BeInCrypto.com Rick D.