Bitcoin Volumes Pick Up

Bitcoin is seeing rising volumes this October, with small dips seeing pick ups in volumes as shown above.

That suggests people are buying the selloff, with some traders speculating that if volumes hold here, then sellers might be exhausted.

There seems to be significant demand below $20,000, with the current levels of accumulation potentially requiring a price increase sooner or later.

Although bitcoin has been ranging at these levels for now months, a year on since Uptober has seen some return of institutional investors activity.

The infrastructure in addition continues to be built, with the bombastic BlackRock-Coinbase partnership now joined by a more ‘underground’ integration of a MassMutual crypto spinoff with Envestnet, a publicly traded financial company with some $1.2 trillion in assets under management.

Bitcoin is also nearing a year on since the bear, easing concerns about any worse to come that may have applied so far.

Not least because the crypto usually starts turning around these points, though very, very slowly.

And although no one can time markets exactly, there appears to be an increase in speculation of more upside than downside.

If these levels hold therefore, the bear may well be exhausted, but for now bitcoin sideways on.