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I thought long-term steady increases in BTC value would be because of long-term steady increases in volume, but volume looks like it's fallen off a cliff. What

I thought long-term steady increases in BTC value would be because of long-term steady increases in volume, but volume looks like it's fallen off a cliff. What is going on here?

joantune 10y ago
Low, constant 'buy' volume. Are people using Bitcoin to store their funds more and more?
- wyldfire 10y ago
  Yes, everyone is "hodl"-ing because the people who came before them got 100x or more gains. They're all praying that the steadily decreasing inflation curve and steady demand naturally yields higher exchange rates.
- xiphias 10y ago
  Every time somebody buys/sells bitcoins she just makes exchanges and algo traders richer. Bitcoin is awesome as a store of value...for everything else, there's Mastercard.
rebuilder 10y ago
Can't say for sure, but it could be because speculation has historically been a major driver of volume and low volatility is bad for speculators. So while there's certainly been a good deal of ups and downs recently, overall the market has been, for Bitcoin, relatively boring. Also, a lot of the hyperbullish types might be wary of going all in again, having been burned before.
hultner 10y ago
How are transactions prices progressing and are congestion due to block size limits becoming a real problem? If anyone here is heavily involved or invested in bitcoin, what's your opinion on blockchain scalability? Especially with the current blocksize lock, is it viable to keep it at this point if institutional investors enter the market and transaction volume rapidly increases?
comboy 10y ago
I think bitcoincharts may be excluding volume from Chinese zero fee exchanges. On exchanges I track volume actually increased where it goes down on bitcoincharts [1] (which could be because of traders moving to these exchanges). In USD it stayed comparable [2] 1. http://data.bitcoinity.org/markets/volume/2y?c=e&r=week&t=bar http://data.bitcoinity.org/markets/volume/2y?c=e&r=week&t=ba... 2. http://data.bitcoinity.org/markets/volume/2y/USD?c=e&r=week&t=bar http://data.bitcoinity.org/markets/volume/2y/USD?c=e&r=week&...

I thought long-term steady increases in BTC value would be because of long-term steady increases in volume, but volume looks like it's fallen off a cliff. What is going on here?

joantune 10y ago

Low, constant 'buy' volume. Are people using Bitcoin to store their funds more and more?

wyldfire 10y ago
Yes, everyone is "hodl"-ing because the people who came before them got 100x or more gains. They're all praying that the steadily decreasing inflation curve and steady demand naturally yields higher exchange rates.
xiphias 10y ago
Every time somebody buys/sells bitcoins she just makes exchanges and algo traders richer. Bitcoin is awesome as a store of value...for everything else, there's Mastercard.

rebuilder 10y ago

Can't say for sure, but it could be because speculation has historically been a major driver of volume and low volatility is bad for speculators. So while there's certainly been a good deal of ups and downs recently, overall the market has been, for Bitcoin, relatively boring. Also, a lot of the hyperbullish types might be wary of going all in again, having been burned before.

hultner 10y ago

How are transactions prices progressing and are congestion due to block size limits becoming a real problem? If anyone here is heavily involved or invested in bitcoin, what's your opinion on blockchain scalability? Especially with the current blocksize lock, is it viable to keep it at this point if institutional investors enter the market and transaction volume rapidly increases?

comboy 10y ago

I think bitcoincharts may be excluding volume from Chinese zero fee exchanges. On exchanges I track volume actually increased where it goes down on bitcoincharts [1] (which could be because of traders moving to these exchanges). In USD it stayed comparable [2] 1. http://data.bitcoinity.org/markets/volume/2y?c=e&r=week&t=bar http://data.bitcoinity.org/markets/volume/2y?c=e&r=week&t=ba... 2. http://data.bitcoinity.org/markets/volume/2y/USD?c=e&r=week&t=bar http://data.bitcoinity.org/markets/volume/2y/USD?c=e&r=week&...