Bitcoin just breached all-time high in hourly volume!

[cheezcarls]

As Bitcoin became extremely volatile yesterday, it breached its all-time high hourly transaction volume. In just one hour, the on-chain volume of Bitcoin was more than $8.9 billion.

While the blame falls on volatility for the movement, the actual reason might be completely different.

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Looks like Bitcoin does it again!

No, we're not talking more about the price pump, but the on-chain volume that was being generated in just an hour. For me, I think this one is really something! To all who have waited for the price to pump, you guys didn't see this coming back then due to the market's unpredictability.

I just hope that before the end of the year, Bitcoin and other cryptocurrencies will be making a "one last rally". However, I would not count on the Santa Rally though.

It's just that Bitcoin is full of surprises, especially this one.

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[GeorgeFeb]

Just wait until the end of December when it could hit all time low in hourly volume!

[pooya87]

No, we're not talking more about the price pump, but the on-chain volume that was being generated in just an hour. For me, I think this one is really something!

it is just "new to you" because you have never looked at the transaction volume before and now that there was a very tiny spike* in that volume you think you have found something extraordinary. it is not a problem to be new but when you write an article about it and publish it on a site (i assume you own that site since all your post history is advertising its link) and spread this kind of weird misleading content it becomes a problem!

* the biggest it got was ~10k tx or 8 MB, 2 days ago and that is not even the biggest in past week (40k or 22 MB) or past month (60 k and 110 MB)

[samuraijin]

if it's easy for bitcoin the price goes up to hundreds or thousands of dollars in just one day it's been incredible, until now I'm still waiting for the time when the predicted bitcoin price will drop again at $ 3000 but suddenly rises dramatically because it's hard to predict and always has surprise, I will laugh at speculators and analysis experts, I am still waiting to bully them

[buwaytress]

Shouldn't really have been that much of a surprise, exchanges pretty much need to move funds every now and then, it just so happened they chose this time to do it. Network was basically small. They still overpaid fees at 60 cents though I would say, given that I've still been able to pay 10 cents on txs with >5 inputs =p

They probably were just prepping their LN channels with this.