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Bitcoin Bulls Are Ignoring One Big Problem

05 Jan Bitcoin Bulls Are Ignoring One Big Problem

Posted at 15:38h in Bitcoin News by

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Bitcoin and cryptocurrency bulls have cheered bitcoin’s more-or-less positive start to 2020, despite the rise coming off the back of a major escalation in tensions between the U.S. and Iran.

The bitcoin price, which limped through December following six months of declines, dropped below the psychological $7,000 per bitcoin mark early in the new year only to bounce back again a few hours later.

However, crypto analysts have warned bitcoin trading volume is now at its lowest since April, with volume down 90% from its June 2019 high—and when volume is low markets are more likely to make sudden, volatile moves.

“The seven-day average real trading volume continued downwards this…

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