[uncensored-r/Bitcoin] Trading volume on OKcoin dramatically down in the last 4 hours
The following post by karmakarzi is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/70cetv The original post's content was as follows:
Question: Will Bitcoin Go Up Or Down During After The Two Coming Forks Due To Trade Volume?
I know many people have been selling altcoins to buy BTC in preparation for the forks to get "free money". But my next thought is: now they have to sell those coins in exchange for BTC. Won't that drive up the price of BTC even more due to demand?
Worldwide bitcoin trading volume has decreased by up to 37 per cent compared to last year. However some countries have also registered strong growth in the use of the currency, as shown by a new infographic from Block-Builders.de. In Latin America in particular, BTC is becoming increasingly important and living up to its reputation as a crisis currency. Bitcoin Flashes Signs of Weakness as Trading Volume Plummets . At the time of writing, Bitcoin is trading down roughly 1% at its current price of $9,190. Just a couple of days ago, buyers attempted to break the recent consolidation trend when they pushed its price up to highs of $9,400. Bitcoin hasn't been doing anything new. Just like the past three weeks, we are back to moving upwards to mark a green start of the week. However, 'real' volume is really low at just abo LINK’s trading volume on Coinbase, the largest U.S. exchange, has increased by 67%, while XLM’s volume has jumped by nearly 40% to new record highs. Meanwhile, bitcoin trading has diminished Trading volume measures the interest there is in a market, this is as true for equities, as it is for Bitcoin. High trading volume generally means that the market is very active and healthy, while low trading volume indicates indecision or disinterest by market participants.
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