Monthly bitcoin trading volume in August fell to its lowest level in five years. Experts believe this is due to market expectations about catalysts, the end of the banking crisis, and US monetary policy.
According to the results of August, the trading volume of bitcoins on all exchanges amounted to 129.3 thousand units. This is the lowest monthly trading volume for the first cryptocurrency since November 2018, CNBC noted.
Bitcoin trading in August was down 94% compared to the record 3.5 million coins in March.
Experts talk about leaving the retail investor market. They also point to the lack of catalysts in the market that would drive bitcoin trading, for example, the opening of the first bitcoin ETFs.
In the August 17 auction, bitcoin fell 15% amid the Wall Street Journal’s publication of Elon Musk’s $373 million SpaceX bitcoins being canceled and part of his cryptocurrency being sold. .
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
