Bitcoin Hits New 4-Month High with Daily Trading Volume over 20 Billion US Dollars

03/15/2023 09:52 • NFT Newsflash • 157 views

On March 15th, data showed that Bitcoin once exceeded 26000 US dollars yesterday, and the daily trading volume of Bitcoin on the centralized exchange exceeded 20 billion US dollars (USDT and USDC trading pairs), hitting a new 4-month high since the FTX crash.

Data: CEX’s Bitcoin daily trading volume exceeded $20 billion, hitting a new high in nearly four months

Analysis based on this information:

Bitcoin is once again making headlines, as on March 15th, it exceeded the 26,000 US dollar mark and achieved a daily trading volume of over 20 billion US dollars on centralized exchanges, with trading pairs of USDT and USDC. This is a new four-month high since the FTX crash in November 2020.

The increase in daily trading volume indicates that there has been a renewed interest in Bitcoin over the past few weeks. The surge in Bitcoin’s value can be attributed to a variety of factors, including the recent surge in institutional investments as well as the announcement of companies like Tesla and Mastercard accepting payments in Bitcoin. These developments have helped Bitcoin to gain greater mainstream acceptance and legitimacy, which has furthered its popularity and increased its value.

In addition to the increase in institutional investments in Bitcoin, there has also been a rise in demand from retail investors. This is due to a combination of factors such as the fear of inflation due to increasing global government debt, the financial uncertainty brought on by the COVID-19 pandemic, and the feeling of FOMO (fear of missing out) as the value of Bitcoin continues to rise.

Moreover, there has been a growing trend of companies and institutions investing in Bitcoin as a hedge against inflation and as an alternative to cash reserves. MicroStrategy, a business intelligence company, has purchased over $1 billion worth of Bitcoin since August 2020, and other companies like Tesla and Square have made similar investments. This trend is likely to continue as more companies seek to mitigate the risks associated with holding large amounts of cash in a low-interest rate environment.

In conclusion, the recent surge in Bitcoin’s trading volume is indicative of the growing mainstream acceptance and legitimacy of Bitcoin as a valuable asset. The increase in daily trading volume is a testament to the renewed interest in Bitcoin from both institutional and retail investors. As more companies and institutions invest in Bitcoin, and its value continues to rise, it is likely that we will see further growth in its trading volume and value in the coming months.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/5646.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.