Despite the volatility that has been seen in Bitcoin (BTC) over the last two days trading seems robust in the apex cryptocurrency.
What Happened: Bitcoin trading volumes on the eight major exchanges tracked on the CoinDesk 20 index have exceeded $11 billion a new all-time high from the previous record set during the 2017 bull market, CoinDesk reported on Monday.
“Some of this volume is definitely from new and unexperienced (sic) investors entering the market for the first time and panicking when the price starts falling,” Bendik Norheim Schei, head of research at Arcane Research, told CoinDesk.
“These corrections are necessary and healthy, even in a bull market,” said Schei.