Trading Volume Significantly Declines As Bearish Downtrend Sets In for Bitcoin and Ethereum

2022-10-16 03:20

Cryptocurrency markets are again in the red, and this Saturday’s trading volume has drastically decreased. Prices for Bitcoin and Ethereum are lower today due to the market’s break after showing little movement on Friday. Ethereum is still trading below the $1,300 support zone, while Bitcoin is trading in the low $19,000 level.

Crypto Market News Update

BTCUSD’s 24-hour trading volume is down 54%, while ETHUSD’s 24-hour trading volume is down 49%. The trading volume is anticipated to decline over the weekend.

As a review, some noteworthy news from this week is as follows:

There are claims that North Korea is covertly amassing millions of dollars worth of bitcoin through dubious techniques, including hacking and exploiting smart contracts. The Fed’s aggressive monetary policy is the reason why the stock market is underperforming. The SEC launched an investigation into Yuga Labs, ApeCoin, and their NFTs. Through Coinbase, Google Cloud started to accept Bitcoin, Ethereum, and Dogecoin. Following the merge, Ethereum’s network is becoming deflationary as more Ether is burned during transaction validation than is created through staking. By providing SBCs (Sustainable Bitcoin Certificates) to interested investors wishing to fulfill their sustainability quota, a new protocol attempts to encourage the environmentally friendly mining of Bitcoin. General Thoughts On The Crypto Economic Market

In terms of the cryptocurrency market’s economics, the total valuation is still at the $900 billion level. We can reasonably conclude that the short-term market mood is bearish as long as it remains below $1 trillion.

The fear and greed index is currently at 24 points, which is lower than last month’s 28 points but still better than the 20 points earlier in the week. This level of extreme fear on the market has been constant over the previous few months.

The lessened volatility for Bitcoin and Ethereum is good news despite the bear market and may indicate that the bottom of the market is getting close. While a trend reversal this year is unlikely, things may change in the following year.

Dollar-cost averaging long-term positions now could be a good strategy if you’re still willing to purchase the drop and have cash on hand to position yourself for enormous gains when the bull market begins. Patience is the game, as it might not be until Q2 or Q3 of 2023 till we actually have another bull run.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: DrawKit Illustrations on Unsplash  // Image Effects by Colorcinch

The post Trading Volume Significantly Declines As Bearish Downtrend Sets In for Bitcoin and Ethereum appeared first on NullTX.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3309.77 (-0.25%)
Объем 24H $25.774b
Изменеия 24h: -2.59 %, 7d: -15.12 %
Cегодня L: $3274.83 - H: $3393.89
Капитализация $398.679b Rank 2
Цена в час новости $ 1283.21 (157.93%)

volume bitcoin trading ethereum due today friday

Источник: nulltx.com

volume bitcoin → Результатов: 126


Фото:

Retail Losing Interest In Bitcoin? Volume Plunges 30%

On-chain data shows the Bitcoin transfer volume of retail investors has seen a sharp decline recently, a sign that this group may be losing interest. Bitcoin Volume For Retail-Sized Transactions Has Plunged Recently As explained by CrypoQuant author Axel Adler Jr in a new post on X, the total BTC transfer volume for transactions valued between $1,000 and $10,000 has gone down recently.

2024-6-28 04:00


Bitcoin Volume Hits Yearly Low, What Impact Will it Have on Crypto Market?

In the past several days, the daily trading volume of Bitcoin has declined by more than 23 percent to its lowest point in 2018. Edward Morra, a respected technical analyst in the cryptocurrency sector, said: ‘This is the lowest recorded daily volume in more than a year at least (as much as I could squeeze […] The post Bitcoin Volume Hits Yearly Low, What Impact Will it Have on Crypto Market? appeared first on CryptoSlate.

2018-10-8 13:00


Фото:

Bitcoin Price Analysis: New Low on Low Volume Breeds Potential Bullish Set-up

Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it. Although the market seems to be continuing its drift to new lows with greater and greater ease, there are a couple of bullish signals worth considering while the market continues to consolidate: Figure 1: BTC-USD, Daily Candles, New Market LowOn Friday, June 29, 2018, for the first time this year, the daily candles closed below the annual low of $6,000s.

2018-7-1 19:35


Фото:

Bitcoin Futures ‘Too Small’ to Cause BTC Bear Market

Experts have suggested that the bitcoin futures price effect may be so negligible as to have had almost no impact on the recent BTC price slide. Speaking to Crypto Briefing, Mati Greenspan, a senior market analyst from eToro, explained that in comparison to the volume on prominent exchanges, the BTC futures market was not large enough to […] The post Bitcoin Futures ‘Too Small’ to Cause BTC Bear Market appeared first on Crypto Briefing.

2018-6-30 16:55


Фото:

Bitcoin in Brief: Exchanges Expanding, Brave Adds Tor, Tether ”Double Spent”

If you thought that only proof of work coins were susceptible to double spending attacks, you haven’t met tether. The world’s ninth largest crypto by market cap and second largest by volume is meant to be a haven in a sea of uncertainty, but even it’s not immune to jiggery-pokery, as we’ll learn in today’s […] The post Bitcoin in Brief: Exchanges Expanding, Brave Adds Tor, Tether ”Double Spent” appeared first on Bitcoin News.

2018-6-29 12:55


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Is the Altcoin party over? Bitcoin dominance threatens alt sector!

Positioning for altcoins? These bearish signals call for caution.  The altcoin season index slipped below 50%, marking a new monthly low.  Altcoins are in massive discounts after the recenThe post Is the Altcoin party over? Bitcoin dominance threatens alt sector! appeared first on AMBCrypto.

Fantom breaks $1: Will FTM continue its bullish trend towards $1.50?

Fantom’s price surge is supported by strong network growth and key resistance targets near $1.50. Technical indicators and market sentiment highlight cautious optimism for sustained upward moThe post Fantom breaks $1: Will FTM continue its bullish trend towards $1.50? appeared first on AMBCrypto.

Why Ethereum Classic could be setting up for a 20% price jump

On-chain metrics revealed that exchanges have experienced a substantial $22.85 million worth of ETC outflow. ETC long/short ratio indicating strong bullish sentiment among traders. ETC, the The post Why Ethereum Classic could be setting up for a 20% price jump appeared first on AMBCrypto.

XRP whales buy the dip - Analyzing impact on price action

XRP has declined again after a slight rebound in the last trading session. Whales remained in the accumulation mode despite price decline. Ripple's [XRP] recent price decline has caught the The post XRP whales buy the dip - Analyzing impact on price action appeared first on AMBCrypto.

Toncoin 'tops' the social charts! How can TON's price benefit from it?

Toncoin rose to the top as the coin with the highest social and market activity in the last 24 hours Worth evaluating whether these findings can influence TON's short-term or long-term bullish The post Toncoin 'tops' the social charts! How can TON's price benefit from it? appeared first on AMBCrypto.