Bitcoin Forum

First of all the volume chart looks like it has been zoomed in at the highlited places. If not, according to your chart the near all time high volumes have been going on for more than a month now. Consequently, even if it isn't fake volume to mislead people in fake outs, there is no real impact from this high volume on the whole market. To see a real bullish breakout we need extremely high volume on all exchanges together with the big green candle.

I like to see the real chart for this one before I conclude anything about this if it is true or not, but I don't see any thing that could affect the crypto space.

I check volume each day almost on coinmarketcap and I haven't noticed anything out of the ordinary, so much like the other comments I'm going to have to consider that this is probably misrepresentation of the facts and that volume is still much lower than the chart suggests when contrasting to the highs of early 2018.

You can check the chart on tradingview, and I’m not saying that this will somehow affect the market, and this is a fact of interest that is gained from the month of September, as we know in Korea, they are very positive about cryptocurrency.

We've seen a lot of fake volumes in the past, especially in Chinese exchanges but that didn't even translate to a single spike in price. Even if the volume here is significantly higher than the rest of the world, still if the volume is made out of constant in-outs without anything happening, no strong movement would be established and the price would remain stagnant. However though it's quite amusing to notice that the volume on the east is this strong. The Koreans, together with the Japanese would again be a strong force should a bullish movement is established.

Well South Koreans is only part of the equation year. If the OP is implying that a break out run should occur, I doubt it because as I have said, it will take the whole crypto market to really uplift everything and not just Koreans or Japanese market for that matter.

And we shouldn't be surprised though, as South Koreans are really interested on crypto ever since. And we're still trading sideways so those volumes (fake volume or not) has no significant effect whatsoever.

Honestly I see a "rock and roll" sign on that chart.  ;D

Anyway South Koreans does really have high interest to cryptocurrencies. An exchange won't operate there if there's no interest and volume at all. And this ain't new as far as I remember there are also hack incidents that included that South Korean-based exchange (bithumb).

Addition:
To know more about the volume of different countries: https://coin.dance/volume/localbitcoins

Thank you very much, very interesting information on the resource, I will add to myself.

Let's see what this brings, the Korean market definitely looks more positive then other markets.

They have always been positive about cryptocurrency that some of the people there invested money into it, scammed and got owned, put their whole life savings in it and cried a lot when the market went down. It is not just about it. The safeguards have been placed as well. We can't just conclude this as 'a good thing' just because bitcoin earned some love from Korean people, isn't it? We have to still look at it at different perspectives.

Don't mention it, I also got it from someone here in the forum.  ;)

South Korean market has been always good. You will never expect that there's a good movement of crypto's there and mostly for bitcoin. This is like Japan crypto community where there's a massive support from the people though I'm not sure what's the current talks about the government there. You may never know on how big the South Korean market and let's say that North Korea is already there as I've read some news regarding its interest to bitocin mining.

Koreans, as far as I know has a huge impact on the market. Even North Korea may have made as much as $200 million from Bitcoin, according to expert  (https://www.telegraph.co.uk/news/2018/03/05/north-korea-may-have-made-much-200-million-bitcoin-according/). And I agree that South Koreans, just like the Japanese, are really into bitcoin investments. And there are a lot of local exchanges who made it big in the worldwide market, so its obvious that they're here for the long haul. So if ever this ecosystem will change for the better (going bullish), we might see large trading volumes again coming from Asia specially South Korea and Japanese markets.

It is better to say that it has improved the acceptance of Bitcoin in that country than being a "Large volume."
I remember at the end of last year there was a clear difference between the Korean platforms and the rest of the platforms in the world "may be a manipulation of prices," but the point here is the biggest benefit for investors.
This is if we say that these schemes are true.
Generally, all these things do not make a difference.

According to the picture, it doesn't look authentic to me (maybe zoomed?). We have seen plenty of wash trading and artificial volume among Asian crypto exchanges so it might not be conclusive.

1. This graph looks really weird.

2. You can't trust the volume of many exchanges as it's largely fake volume by wash trading bots.

3. If this is legit is there even any reason for such a spike in volume on Korean exchanges?

Even though a lot of people are complaining about the possibilities of fake volume, we still cannot rule out the impact of this region when it comes to cryptocurrency adoption, and some times, like they always say, even in every rumor, there is always an element of truth. We also have to consider what if those volumes were for real? All the same, fake volume or not, I still believe one way or the other, that the big institutions and investors are already accumulating, and in no time, the possibility of seeing the market hitting upside could be a reality.

Volume is going parabolic, yet price stays in a tiny range. Totally legit. ::)

It looks like they got their hands on OKcoin and Huobi's volume churning bots. Bithumb charges trading fees, so I'm guessing they're just inflating volume with wash trading like the Chinese exchanges were doing a few years back.

Large volume transaction is better how to know some coin could increase and have higher price, we have buy or trade with some altcoin have high volume transaction because will be many investor and trader buy the altcoin have large volume transaction.

grateful for this advantage, I don't know how many people have benefited from crypto trading, but I see this graph looks strange, maybe I think this is fake pump, Korea is also a big bitcoin miner, maybe a lot of investors want to try their luck by trading crypto.

This shows that South Korea really supported the Crypto currency again that they are part of the strong pillars now, that will help Bitcoin price to not directly to fall. I remember this year when the PM of S.Korea declared ban of Bitcoin it really affected the market price performance to fall slightly but now that they are in full support again we just hope that the market will fully recover in no time.

South Korea is only a small section of the global market and I doubt that their trading volume alone will make a significant impact on the global price.  ??? We know from experience that some Asian exchanges created fake trading volumes to compete with rival competitors to increase their own status and to attract more traders to their platforms.

Since this has happened, governments stepped in to regulate some of these exchanges and they even forced some of them to close their doors. I hope we are not seeing a repeat of this scenario, because these governments will clamp down on this practice again, if this is happening again.  :(

the Korean government is one of the countries that has an influence on cryptocurrency, many large exchanges originating from there. with permission, the crypto trade stretched more energetically

In every rumor there is some truth but not in every lie. Therefore if this is fake (I don't know if it is or not) then there may be nothing to deduce from it. Do think institutions are coming but not for some more time yet, or at least we won't see their presence for some time yet.

Nothing is certain that will surely lead us into hesitations on predicting on what is truly happening. We have seen fake out for how many times but there are indicators that we did let pass believing that it is a fake out but eventually a legit one and lead up to regrets.

Basing on the chart theres really some volume either this is the start of possible comeback or just a fake out. Who knows?

i think if it is capable of listing in large exchanges, of course project has good validity. i think that is the easy parameter. and of course there will be many traders who arrive when just listing in that exchange

This can't be just south korea is it? I mean south korea did not ban crypto before and there wasn't a sudden "alright you are allowed" type of ban lifting going on that makes the volume to increase. Were there some sort of new thing that happened to make South Koreans more interested in crypto out of nowhere? I don't know if this is the koreans that gets interested in this type of stuff but I am pretty sure if its them than there must be some better explanation than crypto getting more awareness there.

Also volume is not THAT increased overall right now, yeah its more than what it was yesterday but it is not a huge spike that changes the markets too much. We need almost double of this and probably even more than that before we can count on a bull run to happen.

The large volumes is going to be transmitted into upwards price movement in some days to come.  Therefore,  it is better to join the next bull run.  However we should know that great volumes from South Korea alone is not going to affect bitcoin pricing mush but bitcoin needs to come out of it currently limitations.

Well it's bitcoin so I'm not really sure what you're talking about here. Bitcoin is on all large exchanges apart from perhaps some which operate on different chains like the decentralized ethereum ones.

He never declared a ban. You were reading too much of FUD by bloomberg and others. Korean PM only said that they will be discussing a potential ban on fiat transfers to bitcoin exchanges. All FUDsters caught wind of it and started spreading the news that Korea is banning Bitcoin. Even if they temporarily blocked exchanges from receiving fiat it wouldn't be a ban.

December 2017 is good month for cryptocurrency market. In that month, transaction volume reach the highest value. With market condition right now, many investor prefer wait and see. I am believe the transaction volume will growing bigger again and market will recovery because many good news will come to market

With steady prices and soaring trading volumes, I think there is a great deal of interest from the investors. Maybe this is a good time to invest.

For me, the increase of the volume doesn't mean that the price will increase because I've seen this before and it's not always pushing the price to go to the higher price. Perhaps, people in Korea just aware that they need to buy bitcoin right now and it makes them fill the order buy and it makes the price moves. But on the other side, we don't know if it's true or not because we already know that the fake volume can happen too and sometimes, with the fake volume, it can make and attract people to do something and in the end, the price will move to the higher price or lower price. So it's better to see what will happen later and I think right now, bitcoin price is down again, but it will bounce up again.

Those are some pretty huge volume I must say and I am not surprised. Honestly, the way I see it, this shows one thing and that is the possibility of the fact that we have reached the bottom and the institutions are already getting in big as well as accumulating for a while now, otherwise what explanation are we going to give with the consolidation and such a volume, considering the fact that Korea is a big market for cryptocurrency. I really just do hope it is not a fake volume though as this is not always something new from this region.

Because volume doesn't increase the price! Volume only indicates an increase in trading but it can be trading to the upside or to the downside. When Bitcoin was falling to 6000 USD we had very large volume. If it went up now it could also mean that somebody is trying to break below 6000. Increased volume in an upside break means that trend is reversing, but there has to be a break. Now we'd need BTC to break 7000 with volume.

I agree with you! In the past there were incidence of high volume but didn't translate to significant movement. It is simply because that cryptocurrency traders were already aware of the process called pumping the volume. However, giving the news the benefit of the doubt, high volume might at least give us a chance that there are bullish investors coming in.

Some large volumes are manipulated by those groups to bring speculations to the market to create a bullish period. One reason for large volume is to attract more new investors. Maybe some here are already tired of the bearish period. They want the market to shift to bullish. If ever there is a large volume again, and there is significant movements, that is good.

We have seen that large volume yesterday but as you can see today that's gone already, which means it was temporary and that is not what we need, we need the "large volume" we talk about to become something normal and everyday thing before we can get a hope for a big bull run. Best way to assure there is a big bull coming is to check the volume, if these types of large volumes happen only once in a while it means the whales are gathering bitcoin as much as they can without disturbing the market, which means they believe the coins we check are also checked by the rich folks and the price is believed to be going up soon. However the going up part won't start until all of us combined start to work towards buying and the volume stays high for a long period of time, only than we can be sure that bull is here.

Although we see a high volume in a short term, volume is still much lower than the highs of last year. Thus, no strong movement could be established on the price. Also, volume info is only about a local market and it doesn't give a bird's eye view. There is no relization of this high volume on the whole market.

I don't know, looks pretty sketchy to me. I mean for all we know you could've just took that specific range is n thebdata to highlight a spike. But if you look at the legend it looks like it has jumped 20%. Then again, it it true and an insane volume is pumped into the market by the Koreans then I'd say it all goods news.

I do not only based my analysis on the chart because some investors now and already trading through OTC and AFAIK, the chart only shows the movement based on the exchanges volume. When crypto can be manipulated, it's hard to based on chart alone, bullish period will come and that is the only thing that I put in mind after this disappointing year 2018.

It was another 2 billion day today. Sometimes we go up a bit and sometimes we go down a bit but we are stuck at 2 billion dollar volume unfortunately. When there is a large volume I used to be happy because it meant there was money coming in the market and that would increase the price and basically made all of us rich.

However lately I started to get scared whenever I see a spike in the volume because it might mean that someone big selling their bitcoins and when a whale does it the price goes down really quickly since its all once. So I am not too sure if I want to see the price go up or not, I want to eventually see it higher but for all intends and purposes that increase could happen over a 2 month period which would make me less stressed about a whale possbility.

of course a large volume puts a large exchange too. so that if altcoin is planning a listing on a large exchange, of course, many investors will glance at it. but if the altcoin doesn't have a roadmap there, it certainly becomes a question of its survival

The entire China has been the market hubs for cryptocurrency and at that it should have a very high rate in volume of cryptocurrency exchange for the dollar, Japan house a number of bitcoin exchange that are well recognized in the crypto market. In as much as the statistics may not be accurate Japan still remains a very strong supporter of cryptocurrency

So far it is difficult to say whether this is really the beginning of the growth of a crypto bank, or another speculative attack on sellers in order to collect stops. If growth is real, then volumes will only grow, because for a bull market it is a fuel of growth. For a bear market volumes are not so important, it is always easier to fall than to grow. In the next few weeks it will be clear how true this growth has been. I think this is still a speculative attack, and growth will begin only in the middle of spring. And growth will be slow, with increasing volumes.

And still with all that we are still not noticing anything, the market cap keeps dropping and that includes the price of coins. Last time. I checked the price was at $3,500+, hope that it gets out from this 3k soon cause I have waited for long..some predictions I have been seeing lately claims that the price will even drop to $2,500 before the bull run takes place.

Korea known to be a big follower of USA trends, since USA has started to accept bitcoin as a legit business instead of "drug money laundering system" or whatever they were feeling just couple years ago that means Koreans are next to go into it as well. Since SEC is deciding on bakkt and ETF and all that and Nasdaq offering a direct ETF as well and all of that combined basically shows that USA is ready to make bitcoin another legit investment opportunity to the 350+ million people living there.

Korea follows the pop the drama holywood and many other stuff and try to recreate or even do better versions (lets be honest korean tv looks better than holywood shows recently) they might do something similar and even better. For example if USA said bitcoin is bad and Russia said bitcoin is great than we could expect Korea to ban bitcoin as well since its the opposite we are fine with korean investors.

I think large volume creates a two different scenario for smaller coins.
One problem is maybe it is someone selling a lot which is a problem, the other is maybe someone is buying a lot which is great but still concerning.

However, when it is something as big as bitcoin we should not be worrying about such stuff, there is a limit on what people can buy on bitcoins, they could be early birds and have a lot of bitcoin like Craig but after that it is really hard to acquire a lot of bitcoins without making the market explode. That's why many rich people try to do the purchases and sales hand to hand without using any exchanges in between so they do not disturb the market.

Think about it in today's market if someone wants to put a 100 million dollar buy order they would have to get more expensive the more they buy however if you do that OTC than they could even get a discount.