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

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.