Bitcoin Price Comes Down To $6,400 – What’s next ?
The Bitcoin price has experienced a gradual decline from $6,500 to $6,410.
Low volume of Bitcoin remains a concern for traders, as it demonstrated the lack of interest in investors in the cryptocurrency exchange market to initiate trades in a period of uncertainty and stability in a low price range.
According to CCN, “On Coinmarketcap, the volume of Bitcoin fell to $3.1 billion while it fell to $1.91 billion on CoinCap. The previous yearly low point of the Bitcoin volume was $3.2 billion on Coinmarketcap and $2 billion on CoinCap,”
On Sundays, the daily trading volume of the cryptocurrency exchange market tends to dip, as professional traders and institutions prevent from engaging in major trades throughout the weekend.
Hence, many traders expected the volume of Bitcoin to rebound the following day, hopeful for a short-term price movement in the range of $6,500 to $6,800.