Golfmad (OP)
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February 13, 2018, 06:20:32 PM |
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I have just gotten into trading coins from mining them and have watched the markets over the last 3-4 weeks. I've noticed in the last week that trading volumes have gone really low, GDAX Eth was around 25,000-30,000 a day and now its under 10,0000. Is this normal or is it unusually low at the minute?
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Xenrise
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February 13, 2018, 06:31:12 PM |
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Maybe you're just trading on a platform that has low volumes. Try to trade in binance, you've got to get high volume coins. And normally it is not low. And answering your question, probably, because of the market we have now. It is not yet stable so the volume is affected.
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slaman29
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February 13, 2018, 06:42:37 PM |
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The volumes for trading have generally become a lot lower than the December and even January highs, yes, but it also depends on whether you're measuring in fiat or ETH values. You can always check out the volume charts at coinmarketcap and other sites. Some pairs aren't very good volume, others are better on other exchanges like Xenrise says. I generally try to look at the markets tab and choose the top five (unless I don't already have an account there). But to be fair, if you're not a whale like I'm not, in doesn't really matter. My orders generally get filled.
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vintages
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February 13, 2018, 06:46:45 PM |
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I guess it because of the low price in cryptocurrencies. Almost all the coins are literally low in prices now. Most traders won't want to sell off their coins because they might have gotten it when the price was high. Do you expect a traders who bought Ethereum when the price was $1000+ to sell now when the price is $800 below, that's loss. They are typically holding their coins hoping for when it will pump back a little.
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gentlemand
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February 13, 2018, 06:51:38 PM |
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During the mega falls a few days back it was the highest volume in a long arse time.
But overall the excitement is over and volumes will go to sleep. On places like Poloniex I remember days when over 100,000 BTC volume was happening. Obviously the price was lower so it's levelled out a tad.
We may be in for a lengthy wait before the volumes become epic again outside of isolated pumps. You should've been here during 2015. Man, that was boring.
A lot of potential volume is waiting to see where the price will go. If there's a significant move expect a large amount to pile back in rapidly.
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buytheeffinD
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February 13, 2018, 07:00:58 PM |
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Typically if trading volume is 1-2% that is normal but if it is lower than this, then that might be cause for concern. Alternatively if the trading volume is low, yet prices holds that is a really positive sign for that coin. Essentially low volume isn't always bad you gotta look at a few more factors than just volume to see a coins health.
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Golfmad (OP)
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February 13, 2018, 07:14:08 PM |
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Thanks for the info, the reason I ask is because I have built a trading bot that I am in the process of testing. We have had the odd day on GDAX in the last month where the ETH-EUR volume has been over 100,000 and in those periods the bot worked great. Problem is at the minute the volume is so low the price swings are not really happening at a decent rate. Even when the volume was around 30-40k the bot worked ok but at the minute it a slog in the mud with it.
Doesn't help either that when I look at the ETH-USD on GDAX the volume is much higher. Just a shame they won't open that market up to people in Europe.
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gentlemand
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February 13, 2018, 07:20:03 PM |
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Taken in crypto's entire history, 'low' volume is the norm. If your bot tosses its cookies if there isn't enough action then perhaps it needs a rethink.
Also ETH/EUR on GDAX is an obscure market. It's 41st on the 24 hour volume rankings for ETH. You may want to head elsewhere for more excitement.
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trobin
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February 13, 2018, 08:14:15 PM |
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Most coins I've been trading have had very low volume of late, but that is contrasting it to the recent months where volume has been greatly inflated. I think this is just the market returning to normality.
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Dart18
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February 13, 2018, 08:38:27 PM |
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Correct. It really was lowered. Thanks to Tether. Look at this. https://coinmarketcap.com/currencies/tether/They are all hiding there and waiting for the right time to buy. Or they are using it as an escape. Trading from bitcoin - tether or vice versa. Same with other coins and tokens. Sadly it cannot be stopped. Tether value is 1:$1 which makes it like fiat.  So bitcoin down and altcoin up wont happen again anymore. |
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royale143
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February 13, 2018, 08:52:25 PM |
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The volumes for trading have generally become a lot lower than the December and even January highs, yes, but it also depends on whether you're measuring in fiat or ETH values. You can always check out the volume charts at coinmarketcap and other sites. Some pairs aren't very good volume, others are better on other exchanges like Xenrise says. I generally try to look at the markets tab and choose the top five (unless I don't already have an account there). But to be fair, if you're not a whale like I'm not, in doesn't really matter. My orders generally get filled.
I agree. The trading market is very limited and inactive right now because so many coins are going down or are already down in value at the moment. Many people have the idea that when the assets are down, holding and not being active, in terms of trade would be a better move than risking it and only seeing a loss. Its just a matter of timing, people usually wait for the right time to trade, specifically when the coins they are holding are in the midst of going up in value or during the time when the market is revitalized. |
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