2018-7-5 08:55 |
In our view, this is not the end of the bear market, and traders and investors should expect possible further downside to come over the medium-to-long term.
Daily Bitcoin trading volumes are down over 66% from the all-time highs of December 2017.
We are now witnessing a significant amount of market chop, most likely caused by high-frequency trading bots preying on the lack of volatility and slow grind down over the long term.
On a more bullish note, in the near term, Bitcoin is showing some signs of strength with buy-side volume slowly increasing.
We’re not sure what is causing this current Bitcoin price resurgence (there very well may not be a reason), but it does more or less coincide with the launch of Coinbase Custody.
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