Nearly Half a Billion Dollars Entered the Bitcoin Market Within One Hour

 Bitcoin’s price spike by almost $1,000 yesterday was seemingly due to new money entering the market, specifically USD. Starting at around 6PM London time, bitcoin’s dollar trading volumes significantly increased within one hour to their highest level for the month. Some $55 million was traded in bitcoin within five minutes at around 6:40 PM, falling slightly to above $40 million at 6:45PM according to data from CryptoCompare. Bitcoin usd trading volumes within a day in 5 minutes time frames. Trading volumes do not necessarily mean new money has entered the market due to wash trading, but there is evidence to suggest the price spike was due to an increase in dollar volumes. If we look at ethereum, for example, such volumes went up but not at the same scale as in bitcoin. In eth instead it appears it was more of a “normal” high. ETH/USD trading volumes by hour. In bitcoin, in contrast, its high of $400 million is considerably more than its usual highs of around $150 million. Moreover, the USD trading pair significantly gained against other bitcoin trading pairs at the time of the spike: Bitcoin trading volumes circled at the time of the price spike, image from Mati Greenspan, Senior Market Analyst at eToro. As can be seen there, the dollar pair in blue nearly reached 50% of all other bitcoin trading pairs, with Mati Greenspan, Senior Market Analyst at eToro stating: The market was quietening down over the last week, which is typical around market bottoms when investors lose interest and focus on other things. A great technical setup yesterday may also have helped spur prices forward. charts.bitcoin.com Investors would be wise to remain cautious, as we saw a similar situation in April where some big short positions were squeezed causing the price to surge. That said, if bitcoin pushes past $8k, it’ll indicate that the bull is back and prices could continue to climb further. Whether it will do so remains to be seen, but it looks like bitcoin and cryptos more generally are seemingly once more attracting some serious new money. Anti-Crypto Congressman Brad Sherman to Hold Town Hall Meeting Cryptos Sideway at a Market Cap of Just Under $300 Billion 2 Comments on "Nearly Half a Billion Dollars Entered the Bitcoin Market Within One Hour" The craze for the bitcoin or having the cryptocurrency can be seen by this post as half billion dollars have been invested their money in the bitcoin market within on hour. Those who do not know about the bitcoin can understand from this that it is the next big thing going to take the market on itself fully.  Great News for bitcoin followers!!! Thanks Venezuelan Buys 300 Kilos of Food with Just 61 Nanos, Starts Adopt a Family Movement Hong Kong to Launch Blockchain Trading Platform While 5,500 Points of Sale to Go Out by August, is this a New Crypto Hot Spot? Crypto Spike Has All Puzzled, Who Done It? Coinbase Prime Brokerage Onboards a $20 Billion Hedge Fund Anti-Crypto Congressman Brad Sherman to Hold Town Hall Meeting Cryptos Sideway at a Market Cap of Just Under $300 Billion Fed Does Not Have Jurisdiction or Regulatory Authority Over Cryptocurrencies.  Bitcoin Price Prediction For 2018, 2019, 2020, 2021 And 2022 So good news for Serey block chain😁😁😁👌👍🏽🇰🇭 2018 Jul 6385 6079-9604 8942 40.0% Aug 8942 7697-11099 10373 62.5% Sep 10373 8212-10373 8830 38.3% Oct 8830 6898-8830 7417 16.2% Nov 7417 7417-9206 8604 34.8% Dec 8604 6721-8604 7227 13.2% 2019 Jan 7227 6853-7885 7369 15.4% Feb 7369 5757-7369 6190 -3.1% Mar 6190 6190-7683 7180 12.5% Apr 7180 7180-8912 8329 30.4% May 8329 8329-10338 9662 51.3% Jun 9662 8317-9662 8943 40.1% Jul 8943 8943-11100 10374 62.5% Aug 10374 10374-12876 12034 88.5% Sep 12034 12034-14221 13291 108% Oct 13291 13291-16497 15418 142% Nov 15418 15418-19137 17885 180% Dec 17885 15131-17885 16270 155% 2020 Jan 16270 16270-20194 18873 196% Feb 18873 17544-20186 18865 196% Mar 18865 18865-23415 21883 243% Apr 21883 21360-24576 22968 260% May 22968 22968-28315 26463 315% Jun 26463 26101-30031 28066 340% Jul 28066 24114-28066 25929 306% 🏅🥇🏅🏅🏅🏅🏅🏅🏅🏅🏅🥇🥇🥇🥇