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Bull market: BitMEX reports record Bitcoin trading volume of $10 billion


www.chepicap.com 2019-05-13 10:50
Reading time: ~2 m

Today hasn’t just brought a 2019 bitcoin price high but also a record bitcoin trading high on crypto exchange BitMEX.

As the bulls continue pushing and the bears continue to capitulate and liquidate bitcoin (BTC) trading volume on BitMEX managed to hit record daily volumes of $10 billion as a consequence bitcoin hit a new 2019 high of $7550.

New daily record of $BTC volume on @BitMEXdotcom. All exchange charts are much lower volume so it looks like these faithful beras are responsible for this massive volume. Thanks for providing your liquidations; couldn't have done it w/o ya. pic.twitter.com/21l0UWG0Q8

— AskMeHowToGetRekt (@IAmRipoff) May 12, 2019

Arther hayes, CEO of BitMEX also made note of this momentous occasion, praising the volatility of BTC.

New record for BitMEX trading volume. Praise be to volatility and our wonderful traders! pic.twitter.com/iLMGdpz65n

— Arthur Hayes (@CryptoHayes) May 12, 2019

incredibly this record has been broken on a weekend, a period where traditionally the markets see a slight pullback.

It's fair to say we’re very much back in bull territory as recently pointed out by many prominent crypto propagators.

$BTC 2019 in perspective. That escalated quickly. pic.twitter.com/W4BNZOrLJw

— Alex Krüger (@krugermacro) May 12, 2019

However, in the short term some analysts point to price receding, before any further rally, noting a battleground for bulls and bears around $7500, a factor which seems to have played out in the past few hours, as BTC cites a slight pullback: 

 BTC/USD Chart provided by Tradingview

However, pullbacks and dips are bound to occur, even in a bull market, and as many analysts point out, these could simply provide further buying opportunities; however, today hasn’t just brought a 2019 bitcoin price high but also a record bitcoin trading high on crypto exchange BitMEX. with such volaility anything is possible. Be careful out there. 


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