Bitcoin was originally invented by an unknown person or group under the pseudonym Satoshi Nakamoto and released as open-source software in Bitcoin has long been the face of cryptocurrency, and research produced by the University of Cambridge estimates that in , there are to million unique users using a cryptocurrency wallet. Feb 02, · When Bitcoin started its rally at $2,, the daily trading volume on all exchanges monitored by Coinmarketcap was about $3 billion. It went beyond $23 billion on two occasions: on December 18, when the BTC quotation was fluctuating at around $16,, and on January 6, when Bitcoin hit the highest level in , at $17,Author: IQ Option. rows · CoinMarketCap ranks and scores exchanges based on traffic, liquidity, trading volumes, .
Bitcoin trading by volumeBTCUSD — Bitcoin Chart and Price — TradingView
About BTC. Currency USD. Previous Price Charts Social About All. Swap here! Trade Now eToro. Because the price for one Bitcoin starts to increase sharply, so fewer and fewer traders can allow spending on it, while the volume expressed in US dollars begins to rise together with the price, as shown in the first chart. Once the market moved out of China, the BTC volume dramatically fell, but the price showed an astonishing rally, pulling up the volume expressed in USD.
There are several factors that have supported the Bitcoin trading volume in terms of US dollars. Here are a few of them:. A higher Bitcoin price and higher trading volume might be great for crypto investors that are thirsty for profits, but the increasing volume became a burden for several large crypto exchanges. Binance, Bitfinex, and Bittrex are few of the exchanges that were forced to limit and even block the access to new users as the Bitcoin and crypto trading volume hit new highs.
Besides Bitcoin, cryptocoins like Cardano or Tron were demonstrating impressive rallies as well, putting pressure on the exchanges that operated with them. NOTE: This article is not an investment advice. For the best experience, top crypto news at your fingertips and exclusive features download now.
News Coins. By Robert Stevens 3 min read. Bitcoin Bull Run Bitcoin. What is Bitcoin, really? Image: Shutterstock. In brief Crypto trading volume on top exchanges has boomed.