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- The spot market trading volume of Bitcoin has increased around 50 times after 2016 halving.
- The crypto has changed its infrastructure considerably after the last halving of Bitcoin.
- This was a catalyst to increase the volume of crypto. In 2016, the highest volume of crypto was $1.5 billion monthly.
The spot market trading volume of Bitcoin has increased around 50 times after 2016 halving. The crypto has changed its infrastructure considerably after the last halving of Bitcoin. This was a catalyst to increase the volume of crypto. In 2016, the highest volume of crypto was $1.5 billion monthly.
That peak of that year occurred in June Month. Now, in April this year, the volume is at $30 billion. This is an increase of 20 times. Furthermore, the spot trading volume is up by 50 times. halving is the main cause of the increase in trading volume. Bitcoin halving has increased the curiosity among all types of people around the world over the years. In 2016, the keyword ‘Bitcoin Halving’ was the most trending keyword. The price went up to $600 from $400 on the day of Bitcoin Halving.
Many people were bullish for this reason. In 2020, crypto enthusiasts have searched the keyword 4 times more than in 2016. Google shows these searching data. Hence, it’s clear that halving is the main reason behind increasing in volume.
Did you know that Bitcoin’s trusted spot market volumes have increased by over 50x since the 2016 halving?
Find out more in our short thread below 👇 pic.twitter.com/wjJRlP5MEy
— Cryptowatch (@cryptowat_ch) May 11, 2020
Stagnant Momentum of Bitcoin
Satoshi Nakamoto designed the crypto network in a system that cuts the blocks in half after 4 years and 210,000 blocks. Many crypto websites also inserted a countdown page of third halving. As mentioned before, traders were enthusiasts too. This is the third halving of the crypto.
Many bullish traders were disappointed as the movement of bitcoin has stalled. It is trading at $8600 as of now. The crypto has seen a sell-off last weekend. There was a total of $1.3 billion in liquidations sell-off. According to a survey, a total of 50% of traders expected price rise on the occasion of Bitcoin halving.
Some short-term traders gained a bit percentage around that time. But the up move happened as hedge fund manager Paul Tudor announced that he had invested 1-2% of his assets.
