Citing the Bitcoin (BTC) price analysis released by Jins, the in-house cryptocurrency analyst at CoinNess.com, the trading volume of BTC rises significantly along with the king coin’s continuous rebound. The maximum 24-hour trading volume has been stable at more than $40 billion for six consecutive trading days. There is no doubt that the cryptocurrency trading is popular.
In terms of price performance, BTC smoothly rebounded to more than $10,000 during its short-term operations, showing that the price has a high degree of expansion and contraction, and the power brought by the longs in the current market has been significantly improved. From the perspective of the overall market trend, cryptocurrencies with a large market capital are still the first choice for investors to avoid risks. Otherwise, BTC’s halving is getting closer and closer in time, so the expected increase in speculation is also a driving factor for price increases.
With respect to the active addresses, the number of BTC short-term active addresses remained high. That number on February 18 was 736,000, similar to the recent average. As for the whale transfers, the number of BTC whale transfers (over 100 BTC each) is 690 with a day-to-day decrease of 13.64%, which is at a short-term low level. Even so, the BTC price rebounded. it can be interpreted that small and medium investors are still able to propel the market trend, even if the main capitals have not markedly added their positions.
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