Crypto Market Analysis, Bitcoin Trading Volumes Doubles In a Week

Hey ninjas, how’s the trading going?. According to a report published on the 9th of January Arcane Research (cryptocurrency market research firm), the market trading volume of BTC has more than doubled in a week. The report explains that the weekly average trading volume of Bitcoin has risen 126% in 7 days at the beginning of the year 2020. The report also notes that almost $1.5 billion was traded on the 8th of January alone which is a significant increase from the $192 million traded on January 1st

The report also notes data from the crypto alternative software website Alternative.me. The website data of Bitcoins crypto fear and greed index shows that Bitcoin has been climbing since mid-December 2019 and for the first time since October the levels became neutral. The report further explains that though the levels have been falling back to fear in the last couple of days the recent increase in the greed index shows that the market is certainly becoming more bullish. 

On the day, the largest cryptocurrency Bitcoin is reporting moderate daily losses along with other top crypto’s. Bitcoin is reporting 0.06% losses at press time and is trading at $8,147. Ethereum is also reporting daily losses 0f 0.25% and trading at $144 while XRP is down 2.225 on the day.

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