Trading volume

[stelee68]

I noted the volume was extremely high after the btc price reached support level USD$6000.

After bottoming out at 6k the price went straight up to highest (of the day) at 7.7k. The overall trading volume spiked to the highest ever in the history of BTC which is about 600 million within 24 hours.

If that's not pumping then I really don't know what to call it.

Any thoughts on this?

[jmlona]

I noted the volume was extremely high after the btc price reached support level USD$6000.

After bottoming out at 6k the price went straight up to highest (of the day) at 7.7k. The overall trading volume spiked to the highest ever in the history of BTC which is about 600 million within 24 hours.

If that's not pumping then I really don't know what to call it.

Any thoughts on this?

The whales finally came in to save the day, they were satisfied with the level they'd pushed the price to and then they stepped in to buy up all the cheap coins. I think had we not had the good news from the Senate hearing it would've gone on for a few more days, but with that news it was an opportune moment for them to swoop in and now kick off a bull run.

[btcone111]

Yes. this indeed looks like a proper good pump. However it doesn't mean that it would not go down from here. We'll see.

[trickyriky]

Yes. this indeed looks like a proper good pump. However it doesn't mean that it would not go down from here. We'll see.

For me it does not look like a pump. It is trying to reach the price of 10 thousand as the first goal (I think so). Pump is something greater. Here we see the biggest market fluctuations.

[Beerwizzard]

It once again prove that the price drop happened because of FUD and that people are trying to speculate on BTC price but everyone is still sure that the price will go up again. The support of users is just insane partly because this volume was reached at the price of 6k. It seem realy easy to make it at the high price just by taking some coins and tossing them between different users (like if I buy 1 BTC and then sell it it will increase the volume by 40k at the 20k price) which is way harder at the low point. We will definetely see a new growth this year.

[Mr_Crypto_Coffee]

It's not a pump. Just other mid-small funds enter into the market at the right point (as they wanted since january/2018).

[pooya87]

when price is suddenly dumped to a very low price level, a lot of "alerts" go off warning many traders that it is now a good time to jump in. and as you can see the price reversed up super fast from that bottom. when this happens obviously a huge volume changes hand.
that is always accompanying a huge price change because lots of people are buying and selling during those times.

[ranoby]

Too many buyers and folks who just close their short positions. I dont think that it's trend reversal and it's not pump definitely

[onrise]

Too many buyers and folks who just close their short positions. I dont think that it's trend reversal and it's not pump definitely

BTC is on the recovery mode and not pumping all those who where expecting for the fall did happen and 6k was the best price they could have got it for. And thus many huge buyers have come in the market and as a result we can see price has already reach 9k.  So smart investors have started making money in this bull run.