Dat volume

[RandomPedestrianN9]

People are clearly killing each other over BTC.

Such volume, many adoption, very interest, totally not a bubble.

[MatTheCat]

People are clearly killing each other over BTC.

Such volume, many adoption, very interest, totally not a bubble.

Low volume is what happens during a consolidation period.

[Melbustus]

As loathe as I am to feed a troll, I can't resist pointing out the following...

The dynamic with bitcoin is that relatively low-volume periods add confidence to the concept as a whole... People understand what an incredible concept bitcoin is, how it can, in theory, replace much of PMs as an asset class, plus transactional utility, etc... What scares people away is the volatility and newness of the technology. There's clearly tech risk with bitcoin, but no such risk with gold.

But every day that bitcoin simply continues to exist and process transactions builds confidence. Every low volume day without much price change either way adds to the confidence that bitcoin is 1) not in one of its crazy parabolic phases, and 2) not in a decline. Combine those factors, and you get a nice recipe for people who understand the overall concept to get over any hesitations.

[YogoH]

I think the lower volume is from many reasons. Like Matt said, consolidation.  Also, the lack of trust in exchanges since mt gox, and the rise of ATMs, Coinbase, and other easy ways to get BTC besides the traditional exchanges.

[Dalmar]

All the noob traders are waiting for a big whale volume spike so they feel comfortable buying in.
This staircase pattern with low volume periods is common with bitcoin.

[RandomPedestrianN9]

Still in denial.
So many bagholders.

[Benjig]

All the noob traders are waiting for a big whale volume spike so they feel comfortable buying in.
This staircase pattern with low volume periods is common with bitcoin.

Hehehe, back in 2013 buying at 120 was really an investor move because there were not so many adoption but now the one who is not buying at this price is really a noob, he will wait until it is 5,000 

[MatTheCat]

All the noob traders are waiting for a big whale volume spike so they feel comfortable buying in.
This staircase pattern with low volume periods is common with bitcoin.

and I am 80/20 sure that they will get it early next week, if not before. I say this, because I believe Bitcoin will be manipulated to break out from here. Have witnessed some very deliberate price management in Bitcoin in the past few days and it tells me that some whale wants to make Bitcoin fly.

Having said that, it is causing me a bit of concern that we are drifting slightly beyond the down trendline on low volume at the moment. With Bitcoin, the direction that it shows first is often the opposite direction from which it is headed.

[RandomPedestrianN9]

My uncle wants to spend his life savings on BTC tomorrow so you guys can unload and cash out with USD. He will hold your bag and sponsor your new Lamborghinis. He cant wait.

[MatTheCat]

My uncle wants to spend his life savings on BTC tomorrow so you guys can unload and cash out with USD. He will hold your bag and sponsor your new Lamborghinis. He cant wait.

Then I welcome your uncle to this small microcosmic fractal offshoot of the global casino economy. If our most lucrative industry is the finance industry, which doesn't actually produce anything much of tangible value, then someone, or rather a whole bunch of suckers/peons have gotta pay for the vast profits some way or another?

Poverty?

Environmental Destruction?

War?


So long as it fills up the fuel tanks of my fleet of Lamborghinis, what the hell do I care?

[BittBurger]

Low volume

The dynamic with bitcoin is that relatively low-volume periods add confidence to the concept as a whole...

"This is actually good news!"

[Wilhelm]

So long as it fills up the fuel tanks of my fleet of LamborghinisGulfstream G650s, what the hell do I care?

Correction

[RandomPedestrianN9]

The volume is mondblowing, good to see every person on Earth is trying to buy BTC as we speak. Clearly..

[MatTheCat]

The volume is mondblowing, good to see every person on Earth is trying to buy BTC as we speak. Clearly..

Come back when Bitcoin has hit $900 and tell us some more stories about mindblowing volume.

[Wilhelm]

We are only in the trend reversal stage and we possibly haven't hit the bear trap yet.
It will be a while before we go to da moon and beyond.

[RandomPedestrianN9]

The volume is mondblowing, good to see every person on Earth is trying to buy BTC as we speak. Clearly..

Come back when Bitcoin has hit $900 and tell us some more stories about mindblowing volume.

Yes and buy at the top.

[MatTheCat]

Yes and buy at the top.

Well, somebody has to.

[wachtwoord]

Low volume is the same as: "Rocket launch in t minus 10."

[DolanDuck]

The huge volume usually is triggered by bots when there are crossing emas or panic buys/sells if the value starts to jump/drop.

[MatTheCat]

The huge volume usually is triggered by bots when there are crossing emas or panic buys/sells if the value starts to jump/drop.

Or by whales triggering the bots.

Weekly MACD and SMA crossoever coming right up to a Bitcoin exchange near you.