27 May '14, 12am
Bitcoin volume in $ value up 600% from May 17: A coiled spring of buyers , waiting for an upside price breakou...
A coiled spring of buyers , waiting for an upside price breakout from the "bottom" is demonstrated by volume figures in dollar value over the last week.. After two months of a trading range 0f $20-50million value a day, once it appears that people are convinced the 'bottom"s in at around $400 and it pushes to the upside above $450 then the lurkers buy quickly to establish positions looking for an upside of previous highs and above. The sudden jump to $170 million over the last 2 days from $20million on May 17th ( 600%+++) and from an average over the previous 2 months (400%). Most will not be selling until previous highs are reached. http://www.quandl.com/BCHAIN/ETRVU-Bitcoin-Estimated-Transaction-Volume-USD Looking forward to breaking 1160 sooner rather than later.