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Despite the statements of many skeptics that during the downtrend in 2018 claimed that Bitcoin is dead or useless, the reality, however, is that this year has shown that cryptocurrencies are a cultural phenomenon that is becoming increasingly popular.
According to data compiled by Crypto Quantamental – an investment manager specialized in analyzing cryptographic markets' behavior – today was a historic day for Bitcoin as it recorded its highest trading volume ever.
THIS WAS THE HIGHEST VOLUME DAY IN THE HISTORY OF BITCOIN. IT WAS NOT ALSO REMOTE NEAR!
As simple as that (7 / N) pic.twitter.com/6NOtVWCvLm
– Crypto Quantamental (@CryptoQF) 21 December 2018
Bitcoin (BTC): less expensive, more users every day
This increase in the volume of trade is quite interesting as it is not only a sign of the trust of the users within the ecosystem in the utility of the different cryptocurrencies, but also provides essential elements to discuss a significant increase of the number of new users who accept crypto on a daily basis – something that can play a fundamental role in a future price increase of a specific cryptocurrency.
Likewise, the fact that the volume of trade increases despite the fall in prices is a sign of the maturity of the ecosystem in general. It could now be concluded that trading is independent of price behavior.
Crypto Quantamental emphasizes that there is a difference between trading volume and trading value. While the former expresses the amount of cryptocurrencies that have passed from one trader to another, the second concept expresses the value of the fiat currency of the operations carried out. Of course, this value has been surpassed on previous occasions, but compared to the periods when Bitcoin had similar prices, today it was superior in both aspects.
We saw ATH in the trading volume … Did Bitcoin (BTC) find the lowest price?
He also commented that, although his vision is optimistic, he can not really talk about Bitcoin that has already touched the bottom. To have a sufficient degree of security, he said that Bitcoin should play at least 6k (to avoid possible traps or uncontrolled changes in trend), but that despite being unable to speak with 100% certainty, at least he believes that Bitcoin could be in that process.
In fact, I would not "claim" the fund up to ~ 6kish, many bears will not do it until ~ 10kish, and there will be many that will not be until we reach the ATHs. So, to be clear, I'm NOT calling a fund. It's too early for that, but we're showing the first signs that it might be going on. (9/9)
– Crypto Quantamental (@CryptoQF) 21 December 2018
At the time of writing this article, Bitcoin (BTC) is priced at 3864 USD, Bulls and Bears are struggling to control a trend that constantly separates its price from the 3.7- 4k USD zone
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