Could it be possible, that spring is finally in the air, and after 15 months of misery, we are seeing the first green shoots coming through? Certainly, March has seen impressive daily volumes and price seems to be tentatively holding around $4000.
Marching Through March
Bitcoin’s daily exchange volume has been showing steady and sustained growth; an almost 150% increase in the 5 months since October 2018’s lows. In fact, the average daily transaction volume hasn’t seen levels this high since January 2018.
As cryptocurrency commentator, Kevin Rooke, notes on Twitter, only 9 days in the past 12 months have had over $10 billion in volume. Of these, a full five have been this month and we still have nearly half of the month left. The majority of the others came in February, so volume-wise, things would appear to be regaining momentum.
Bitcoin’s daily exchange volume is booming
Volume has increased by ~150% in the last 5 months
Average daily volume hasn’t been this high since Jan 2018
Only 9 days in the last 12 months had $10B+ in volume
5 of those days have been in March 2019 pic.twitter.com/0VE9bX9iGQ
— Kevin Rooke (@kerooke) March