jeudi, février 25, 2021
  • Our partners
  • Our team
  • Our editors
  • Contact
No Result
View All Result
rzo logo
Advertisement
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • RZO COIN
  • Shop
  • Magazine
    • All
    • Audio
    • Camera
    • Laptop
    • Smartphone

    Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

    National Academy of Sciences endorses embryonic engineering

    Jack Dorsey says he’ll continue running both Square and Twitter

    Fujifilm X-T2 review: The definition of a great camera

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    Trending Tags

    • Best iPhone 7 deals
    • Apple Watch 2
    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • iOS 10
    • iPhone 7
    • Sillicon Valley
    • Gaming

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      The Analogue Nt Mini is the perfect NES console for video game lovers

      GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

  • News

    National Academy of Sciences endorses embryonic engineering

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    Fujifilm X-T2 review: The definition of a great camera

    The Analogue Nt Mini is the perfect NES console for video game lovers

    Using a mind reading device, ‘locked-in’ patients told researchers they’re happy

    Watch Cruise’s self-driving Bolt EV navigate smoothly to SF’s Dolores Park

  • Formation
  • EBOOKS
  • Trading
    • eToro
  • EXCHANGES
    • BLOCKCHAIN
  • Security

    To regain advertiser trust, Facebook is tracking ads by the millisecond

    National Academy of Sciences endorses embryonic engineering

    Google has been asked to take down over a million websites

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    • Computers

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Fujifilm X-T2 review: The definition of a great camera

      Shopify CEO attempts to defend continued hosting of Breitbart’s online store

      SpaceX targets February 18 for Dragon resupply mission to ISS

    • Applications

      Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Jack Dorsey says he’ll continue running both Square and Twitter

  • 🇺🇸
    • 🇨🇭
    • 🇫🇷
    • 🇬🇧
    • 🇨🇦
    • 🇷🇺
  • Home
  • RZO COIN
  • Shop
  • Magazine
    • All
    • Audio
    • Camera
    • Laptop
    • Smartphone

    Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

    National Academy of Sciences endorses embryonic engineering

    Jack Dorsey says he’ll continue running both Square and Twitter

    Fujifilm X-T2 review: The definition of a great camera

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    Trending Tags

    • Best iPhone 7 deals
    • Apple Watch 2
    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • iOS 10
    • iPhone 7
    • Sillicon Valley
    • Gaming

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      The Analogue Nt Mini is the perfect NES console for video game lovers

      GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

  • News

    National Academy of Sciences endorses embryonic engineering

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    Fujifilm X-T2 review: The definition of a great camera

    The Analogue Nt Mini is the perfect NES console for video game lovers

    Using a mind reading device, ‘locked-in’ patients told researchers they’re happy

    Watch Cruise’s self-driving Bolt EV navigate smoothly to SF’s Dolores Park

  • Formation
  • EBOOKS
  • Trading
    • eToro
  • EXCHANGES
    • BLOCKCHAIN
  • Security

    To regain advertiser trust, Facebook is tracking ads by the millisecond

    National Academy of Sciences endorses embryonic engineering

    Google has been asked to take down over a million websites

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    • Computers

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Fujifilm X-T2 review: The definition of a great camera

      Shopify CEO attempts to defend continued hosting of Breitbart’s online store

      SpaceX targets February 18 for Dragon resupply mission to ISS

    • Applications

      Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Jack Dorsey says he’ll continue running both Square and Twitter

  • 🇺🇸
    • 🇨🇭
    • 🇫🇷
    • 🇬🇧
    • 🇨🇦
    • 🇷🇺
RZO Magazine : Formation Ebooks Crypto univers
No Result
View All Result

Bitcoin frenzy? Coinbase surpassing $9 billion in daily volume shows big demand

by
janvier 12, 2021
Bitcoin frenzy? Coinbase surpassing $9 billion in daily volume shows big demand
Share on FacebookShare on Twitter


The demand for Bitcoin is increasing as the rising volatility shows. Coinbase, the largest cryptocurrency exchange in the U.S., recorded $9 billion in daily volume on Jan. 11.

Yesterday, Coinbase, Kraken, and several other exchanges and data providers saw technical difficulties amid record-high trading volume.

The explosive increase in the trading volume of Bitcoin led to extreme volatility, causing BTC to drop to around $30,500.

Coinbase recording $9 billion in volume on a single day is noteworthy because it is equivalent to the total volume for Q1 2020.

The price of Bitcoin. Source: BTCUSD on TradingView.com

There is big demand for Bitcoin at $30ks, what’s next?

The price of Bitcoin briefly dropped below $33,000 yet again on Jan. 12, demonstrating weakening momentum after its initial recovery to $37,000.

Traders remain divided on the market sentiment around Bitcoin. The uncertainty around the short-term price cycle of Bitcoin might be the primary driver of the volatility and high exchange volume.

A pseudonymous trader known as “Salsa Tekila” said that BTC could easily drop to the $31,000 to $32,000 range once again. He said:

“I think we can easily dive back down to $31K-$32K. I wouldn’t bet on it, but I’d consider buying depending on the context. So, not chasing current prices without another dive, setting alert below 33k and above 36k to pay attention, in between I don’t care. Good luck, don’t chase.”

Based on the high volatility around Bitcoin and the high daily volume of Coinbase, cryptocurrency researcher Larry Cermak said he expects Coinbase to reach a valuation of around $100 billion. He wrote:

“You really can’t ask for much more than the growth that Coinbase is experiencing right before the IPO. At this point, I am expecting the stock to trade at more than $100 billion this year. The momentum is there and the mania will happen IMO”

Will this trend get sustained?

At least in the foreseeable future, major cryptocurrency exchanges are expected to see a massive trading volume.

After Bitcoin surpassed $40,000, it has been demonstrating 10% to 20% price swings on a daily basis.

On Jan. 11, as an example, Binance recorded an $8.5 billion daily trading volume for the Bitcoin-to-USDT (Tether) trading pair alone. This is close to Coinbase’s daily trading volume on the same day.

Considering that Bitcoin is moving back and forth between the $31,000 support area and the $36,000 resistance area, the high level of volatility would likely continue.

Below $30,000 would likely indicate the start of a short-term bearish trend. Consolidation under $30,000 could cause the volatility to drop and the daily trading volume of exchanges to slow down in tandem.

However, until the bullish market structure invalidation occurs, the Bitcoin market is expected to see extreme volatility in the foreseeable future.

Bitcoin, currently ranked #1 by market cap, is up 4.54% over the past 24 hours. BTC has a market cap of $640.68B with a 24 hour volume of $89.5B.

Bitcoin Price Chart

BTCUSD Chart by TradingView

Like what you see? Subscribe for daily updates.





Source link

Tags: BigbillionBitcoinCoinbasedailydemandFrenzyshowssurpassingvolume

Laisser un commentaire Annuler la réponse

Votre adresse de messagerie ne sera pas publiée. Les champs obligatoires sont indiqués avec *

Recommended.

S2F Creator: Bitcoin Has Yet To Reach “Point of No Return”

S2F Creator: Bitcoin Has Yet To Reach “Point of No Return”

janvier 14, 2021
Bitcoin Weekly Outlook: Overbought Fears Persist Despite Corporate Boom

Bitcoin Weekly Outlook: Overbought Fears Persist Despite Corporate Boom

février 22, 2021

Trending.

Developers Implicated in Alleged Smart Contract ‘Rug Pull’

Developers Implicated in Alleged Smart Contract ‘Rug Pull’

décembre 2, 2020
Bitcoin Chartists See Price Hitting $70,000 After Tesla Crypto Purchase

Bitcoin Chartists See Price Hitting $70,000 After Tesla Crypto Purchase

février 9, 2021
Multiple Analysts Look at $400,000 as Bitcoin’s Ultimate Bull Stop

Multiple Analysts Look at $400,000 as Bitcoin’s Ultimate Bull Stop

février 10, 2021
Bitcoin Eyes $20K-Breakout as Morgan Stanley Predicts Dollar Crash

Bitcoin Eyes $20K-Breakout as Morgan Stanley Predicts Dollar Crash

décembre 3, 2020

GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

octobre 19, 2020
RZO Magazine : Formation Ebooks Crypto univers

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Catégories

  • Apple
  • Applications
  • Audio
  • Camera
  • Computers
  • Gaming
  • Gear
  • Laptop
  • Microsoft
  • Photography
  • Review
  • Security
  • Smartphone
  • Uncategorized

Étiquettes

AllTime Analyst Analysts Apple Watch 2 Bank Best iPhone 7 deals Bitcoin Bitcoins Blockchain BTC Bull Bullish Buying Guides CEO CES 2017 Coinbase crypto Data DeFi Digital Ether Ethereum Exchange fund Heres high Highs Hit Hits investors iOS 10 iPhone 7 launch Market Mining Mover Options Playstation 4 Pro Price Rally Record Sillicon Valley Trading Wrap XRP

Recent News

Bitcoin Gains on Fed’s Infinite QE, Johnson and Johnson Vaccine Progress

Bitcoin Gains on Fed’s Infinite QE, Johnson and Johnson Vaccine Progress

février 25, 2021
5% Of Bitcoin Supply Expected To Be Used As Collateral By 2023

5% Of Bitcoin Supply Expected To Be Used As Collateral By 2023

février 24, 2021
  • Our partners
  • Our team
  • Our editors
  • Contact

© 2020 All rights reserved RZO COIN Website created by Olivier Obé with Wordpress

No Result
View All Result
  • Home
  • Review
  • Apple
  • Applications
  • Computers
  • Gaming
  • Gear
    • Audio
    • Camera
    • Smartphone
  • Microsoft
  • Photography
  • Security

© 2020 All rights reserved RZO COIN Website created by Olivier Obé with Wordpress

en English
nl Dutchen Englishfr Frenchde Germanes Spanish