RATE Group | Crypto Market Steadies at $202 Billion. Low Bitcoin Volume Remains a Concern
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Crypto Market Steadies at $202 Billion. Low Bitcoin Volume Remains a Concern

17 Sep Crypto Market Steadies at $202 Billion. Low Bitcoin Volume Remains a Concern

Posted at 15:30h in Bitcoin News by

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Over the past 24 hours, the crypto market has consistently demonstrated stability in the $202 billion region, as Bitcoin and Ethereum remained above $6,400 and $220.

Yesterday, on September 16, CCN reported that the volume of Bitcoin is a concern, as it recorded nearly 30 percent drop in volume in a period of three days. As of September 17, the volume of Bitcoin still remains below $3.3 billion, down quite significantly from its $4 billion daily trading volume recorded last week.

For Bitcoin to demonstrate gradual recovery from the $6,400 to $6,500 range, it will have to see a rebound in its volume, ideally back to the $4 billion mark. Until the volume of Bitcoin recovers, it is unlikely that BTC initiates a short-term rally.

State of the Market

The market has not demonstrated any major change in trend since September 11. Apart from the abrupt increase in the price of ETH, the native cryptocurrency of Ethereum, which was somewhat expected due to the 50 percent fall in value…

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