Bitcoin Trading Volume on Coinbase Hits Year High
Bitcoin (BTC) trading volume on important cryptocurrency market Coinbase recently hit a high of 263,000 on May 12, a quantity that hasn’t been seen since February 4, 2018. Bitcoin most recently approached that amount in November, with a peak of 259,000 on the 18th.
The Bitcoin cost was comparable between both peaks at or over 263,000 quantity, close $1,710 and $1,950 for May 12 and February 4, respectively 2018 respectively, however those are bigger compared to similar summit on November 18 if BTC was sitting approximately $4,410.
For volatility, but there’s considerably more similarity between the spikes in May and November compared to large in February. May 12 and November 18 saw volatility evaluations of 16.7 and 10.3 respectively, together with February 4 volatility clocking in at a whopping 54.7.
Bitcoin 2-year volatility graph. Resource: Bitcoinity
According to Cointelegraph in February, approximately three weeks following the quantity high cited, Coinbase declared that BTC trades weren’t always available on the market. Coinbase published a message on their site to cover the matter, saying:
“A recurring problem with our procedures is causing Bitcoin purchases and sells to become temporarily inaccessible. Our staff is exploring and working to restore whole service as soon as possible. Coinbase clients may experience intermittent flashes of BTC purchases and sells within the length as we solve this situation. We apologize for any inconvenience this may cause.”