Anybody else notice trading volume is up by 7x for the last 30 days?

[Cryddit]

Trading volume for last 3 weeks of January and first week of February is about 7x trading volume for the month previous to that.  And it's happened without major price movements.

Int....eresting.  Anybody got wild-assed guesses about what it means?  I've made some popcorn and I'm sitting back to watch what happens next.

[CrackedLogic]

All the shiz is happening at btc-e. Current volume is just over 2mBTC.  Also they hold the lowest sell price .

[sifter]

All the shiz is happening at btc-e. Current volume is just over 2m. Also they hold the lowest sell price .

Over 2 million?

Has it always been like that?

[Cryddit]

no.  It hasn't.  Not since the run-up to the big spike a year and a half or so ago. 

The previous thirty days the volume in that market was only about $260k.

[Cryddit]

It looks to me like someone is testing the market's ability to absorb and recover from higher-volume purchases and trades. 

The experiment, I guess, shows that there is a lot of "latent" supply/demand out there that doesn't show in the open-orders of the exchanges.  The Bitcoin market is apparently deeper than it appears just by looking at the exchanges open orders.  It's confirming something that was shown by the "bearwhale" episode, but it's being done a lot more carefully.

Every asset has an asset-to-market ratio - some percentage of the total amount of the asset is on the market (with a sell order or at least a stop-loss at some price point) at some price.  When a derivative market gets overextended, the asset-to-market ratio can even get higher than 1 to 1. 

Bitcoin appears to have a considerably lower than average asset-to-market ratio. The asset is owned by people who might be willing to trade it tomorrow or the next day or the day after that but who are, more often than with most assets, not represented at a given moment by any corresponding open sell orders on the books at the markets -- not even at very high prices.  Conversely, there are a lot of people who might buy it tomorrow or the next day or the day after that, whose interests are not represented by open buy orders in the markets, even buy orders at very low prices. 

This is "noise" rather than "signal" to long-term investors, but is crucial information to someone who is getting ready to manipulate the market, getting ready to open a new market, or getting ready to start a new trading pattern that the market would respond to differently depending on its actual depth.   

Hmmm.....  still interesting, still don't know what's really happening.  Time to make more popcorn. 

[Q7]

Interesting. Didn't notice that. If there is heavy volume and price still maintains range bound it shows that any heavy selling is countered by strong buying. Vice versa.

[countryfree]

Trading volume for last 3 weeks of January and first week of February is about 7x trading volume for the month previous to that. 

Where did you get this data?

I don't find it on blockchain.info?

[Meuh6879]

find here : https://bitcoinaverage.com/charts#EUR-volumes-3m

[Cryddit]

Trading volume for last 3 weeks of January and first week of February is about 7x trading volume for the month previous to that. 

Where did you get this data?

I don't find it on blockchain.info?

Blockchain info isn't focused on investor/trader activity.  It shows all transactions, including people who are just buying coats from overstock.com. The trade volume change is appearing only in the $USD/BTC markets at large investment exchanges. 

[dothebeats]

Hmm seems to be interesting. Someone's testing the waters if bitcoin could really survive and recover from such a large number of selling. Such resiliency though. Didn't notice that. Thanks for the heads up.

[Lethn]

I didn't notice that either, I hope it means there's a big amount of money moving into the market, should be very interesting.

[ajareselde]

Hmm seems to be interesting. Someone's testing the waters if bitcoin could really survive and recover from such a large number of selling. Such resiliency though. Didn't notice that. Thanks for the heads up.

Coin sold is coing bought, bitcoins just exchanged hands. The trading volume increase could be the sign of U pattern's middle approaching
as the bottom average value, with increased volume suggesting an upcoming uptrend.

[Cryddit]

Interesting, some more.  Also seems to be happening in the EUR/BTC markets.  And now prices are ticking up. 

[Amph]

i think, this is tnx to all the adoption and big market that are accepting bitcoin lately, the price will naturally move up in the end, it just need plenty of time

[Q7]

Hope to see this trend picking up further. It could also means certain goods in large quantities are being bought using btc and the seller is selling back the btc to the exchanger for fiat.


edit: Oh and i forgot to say, the buyer is getting btc in exchanger and use that to pay the seller.

[countryfree]

find here : https://bitcoinaverage.com/charts#EUR-volumes-3m

Thanks for info!
Though, it's more a 2x increase than 7x increase to me, if you shave the 2 peaks.

I guess many people thought that it was a great time to buy with BTC so low. Actually, I've followed that movement, I've bought some extra BTC last month.

[zimmah]

All the shiz is happening at btc-e. Current volume is just over 2mBTC.  Also they hold the lowest sell price .

you should use a capital M when you mean million, a lower case m means mili which is 1/1000th

[Possum577]

The technicals have looked good through that higher volume. Looks like there's support above $200, which is good for all of us.

[Beymond]

Though it is lower than before(january month) but still not bad 

[CrackedLogic]

It's over 6 million at btc-e now, at least we had a small business price increase. Let's hope it's not somebody that's going to dump.