Bitcoin volumes suffer another blow as BitMex weekend volume falls 50%
Skew Markets have noted in a recent research note that weekend activity on the BitMex exchange has dropped off dramatically.
Not only the tweet but if you look at weekend volatility and market volume you can notice that there is a discrepancy.
There was also another news article this afternoon noting that tweets mentioning the word Bitcoin have dropped off. In fact, they have hit their lowest levels in four years.
On October 4th, the number of tweets that mentioned Bitcoin plunged to 7,739, which is its lowest level since January 1st, 2015.
Previously, Twitter mentions had never dropped below the 10,000 mark. Is it just that Bitcoin is out of fashion? has the bubble burst. I think like with most things the initial craze has died off somewhat but the fact is there are still plenty of mentions. When we see another rally it would be good to track the difference.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
