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Here's Why This Bitcoin Bear Market Is Different, According to Leading Trading Firm

Tue, 10/18/2022 - 18:57
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Alex Dovbnya
There's one thing that makes the ongoing Bitcoin bear market distinctly different from 2018
Here's Why This Bitcoin Bear Market Is Different, According to Leading Trading Firm
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Trading firm Cumberland has noted that massive trading volumes set this Bitcoin bear market cycle apart from previous ones, Bloomberg reports.

The firm noted that spot and derivatives and spot volumes typically reach a whopping $50 billion every day, which signals that the market remains extremely healthy despite the fact that the price of the largest cryptocurrency is down significantly from its 2021 peak.

Cumberland concluded that this time is really different since Bitcoin continues to see strong trading activity.

As reported by U.Today, the largest cryptocurrency remains on the ropes, currently trading below the $20,000 level. Bitcoin failed to recover despite the U.S. stock market’s two-day bullish streak.

As Bitcoin remains range-bound, its volatility has dropped to the lowest level of 2022.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.