Although Bitcoin prices are relatively stable, but with a low trading volume, it will be a big barrier for Bitcoin to reach new growth momentum.
The latest update at 11:30 pm from Coindesk shows Bitcoin prices today (July 23) grew slightly by 3.31% over the previous 24 hours. This currency, which is currently trading at $ 7,600, has remained relatively high for the past five weeks.
The above growth rate helped the market capitalization reach nearly 131 billion USD and the market share in the world pre-coded at 45.5%.
Although many indexes have improved, trading volumes are not among them, despite expectations of a "break-up" to Bitcoin's growth. Over the past 24 hours, the trading volume fluctuated around $ 3.7 billion - $ 4 billion.
In the past week, the index has steadily declined from $ 5.5 billion to a low of $ 3.5 billion despite the fact that Bitcoin has risen to $ 7,500. However, the low trading volume of the day made Bitcoin's momentum unstable and this scenario seems to keep coming back.
According to the ICC, Bitcoin is likely to fall to the bottom of $ 7,300 in the short term. The dollar may even bottom below $ 5,000 if smaller digital currencies move strongly in the downward trend.
Although the latter scenario is still uncertain, recent market developments suggest that there is no significant increase in the market as of the end of April, when Bitcoin successfully moved to nearly $ 10,000.
Overview of the pre-coding market has had positive changes, after many hours of continuous decline.
In the top 10 in terms of market capitalization, there is generally a slight rebound. Ethereum jumped 1.06 percent to $ 467, while ripple jumped 1.09 percent to $ 0.45. Bitcoin cash rose 4.64% to $ 825.
Total market capitalization of the digital money market was $ 288 billion at 11:45 am this morning, up slightly from $ 282.5 billion on Sunday.
The 24-hour trading volume of the market fell after strong growth days last week and is currently trading at $ 12 billion, according to CoinMarketCap.