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Real Bitcoin Volume Surpasses $20 Billion, Traders Guess Institutional Investors Are Involved
Summary: Real Bitcoin volume has surpassed $20 billion today, data from Messari research shows. During the last Bitcoin rally in 2017, Bitcoin's volume never reached such a high level capping out just above $5 billion. Crypto commentators took note of the volume on Twitter, writing that the high volumes could be due to institutional activity. Others ...
Real Bitcoin volume has surpassed $20 billion today, data from Messari research shows.
During the last Bitcoin rally in 2017, Bitcoin's volume never reached such a high level capping out just above $5 billion. Crypto commentators took note of the volume on Twitter, writing that the high volumes could be due to institutional activity. Others speculated that this could mean the leading cryptocurrency is in for a volatile January.
Data from Glassnode also shows that today saw the Bitcoin was taken off exchanges and place into cold storage ever. The movement off exchanges means that supply may not meet demand in coming weeks, driving the price of Bitcoin up. At the time of writing Bitcoin is facing a correction from its recent rally and is trading hands for $34,610 and is down 8.86%.
By Emily Mason
Tags: Bitcoin,BTC,Institutional Investor
Link: Real Bitcoin Volume Surpasses $20 Billion, Traders Guess Institutional Investors Are Involved [Copy]
