Since Bitcoin Was at $4,000 BTC Volume Lowest: Price Breakout Near

For some reason or another, Saturday was an extremely quiet day for Bitcoin and the broader cryptocurrency market. In fact, Sam Bankman-Fried, CEO of Alameda Research, a cryptocurrency trader who led a team to create a $50 million BTC (according to some reports), wrote on Twitter that "this is the basis of cryptography. It can be the day of lower volume and volatility. The industry has studied the Loong times. "
Many say that this low volume trend is a sign of an impending break, one that can decide the medium-term future of the entire crypto asset market.

Bitcoin Volume Plunges Out of Nowhere

For more references on this "lifeless" market, here are some figures. In the last 24 hours, the main Bitmex derivatives exchange saw only 86,000 BTC, less than $1 billion, in negotiated volumes.

This is the highest daily volume seen in all 2019 exchanges and in fact, the lowest level seen since November 10, 2018. Certainly, Bitcoin debuted only a few days before falling from $6,000 to $3,000.
It is not just Bitmax that feels the pain of this crypto winter redux. Steven Zheng of the block recently noted that "Coinbase records ~ ~ 57M, given its lowest daily trading volume in months."

He said the last time this metric was "was in March."

What is notable about the end of March is that the sudden increase of Bitcoin from $4,000 to $5,000 at the beginning of April kicked off the rally bringing the cryptocurrency to $14,000.

Volatility Impending

Other indicators indicate volatility. According to previous NewsBTC reports, the one-week Bollinger Bandwidth Indicator (BBW), an indicator that reflects the width between the highest and lowest Bollinger bands, is a tool used to determine the range itself: a great The BTC suggests the movement. Horizon

At this time, the indicator is at 0.42, a level of long-term non-volatility. The last time this indicator interacted with this range of BBW was at the end of March: 4 weeks of Bitcoin entering the micro bull market this year, from the staggering amount of $4,000 to $5,000.
BBW was also under the range of 0.40 just a week or two before Bitcoin crashed in November 2018, when the previous bullfight began in October 2016, and broke for more than $100 for the first time in 2013, A few months before Bitcoin. It was.