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Bitcoin (BTC) Witnesses Declining Trading Volume
Bitcoin (BTC) has experienced a significant drop in trading activity, reaching its lowest trading volume in history and going below the $29,000 mark. The monthly Bitcoin (BTC) trading volume on major cryptocurrency exchanges has hit its lowest point in five years, per the most recent data from a Bitcoin analytics platform on August 17.
In the past 30 days, Bitcoin’s (BTC) trading volume stood at approximately 386.4 thousand BTC, which equates to around $11 billion based on its current price. This decline reflects Bitcoin’s reduced price movement of 2.48% in the last 24 hours and a 6.32% drop in the previous 30 days. Currently, bitcoin is trading at $28,350.
Such a low trading volume indicates potential risks like waning interest, heightened volatility, and the chance of market stagnation. Analysts also caution that reduced trading activity can pose challenges in trading Bitcoin (BTC) at market prices and might increase the risk of price manipulation, thus affecting market confidence. This low volume might trigger further declines in the short term, leading Bitcoin into a bear market.
Besides, current technical indicators imply a continuation of BTC’s price decline into the upcoming week, driven by seller momentum. Technical analysts predict that BTC might dip to approximately $27,000 by the end of the month. However, a daily close above $29,000 could see BTC aiming for the $30,000 mark, invalidating the bearish forecast.
VC Spectra (SPCT) Is An Emerging Powerhouse
VC Spectra (SPCT) is emerging as a powerhouse in the fintech space, encapsulating the fusion of traditional asset management with the dynamic world of blockchain. As a decentralized trading platform, VC Spectra enhances trading solutions and delivers the transparency and efficiency that the DeFi ecosystem advocates for.
The underlying strength of SPCT lies in its innovative integration of AI and smart contract technologies. This makes VC Spectra a promising platform for users seeking both security and profitability in their ventures. The uniqueness of SPCT is evident in its meticulously curating and screening projects before onboarding, ensuring that only the most promising and lucrative opportunities are presented to its community.
VC Spectra prioritizes effective risk management to safeguard capital. Using diversification, they infuse across various cryptocurrencies to spread risk. Hedging strategies further stabilize their portfolio, balancing potential losses with gains. Machine learning tools analyze data to guide decisions, and rigorous research is conducted before embracing any new project. This approach will enable SPCT to deliver consistent returns in a volatile market.
VC Spectra’s ecosystem caters to blockchain enthusiasts. SPCT offers the Marketplace for digital asset trading, the Prediction Market for event speculation, and the Terminal for market analysis and asset management. The focus is on user experience and DeFi potential.
VC Spectra (SPCT) has progressed to Stage 2, with its token now valued at $0.025. Users joining this Stage can expect a 220% increase by the presale’s conclusion. Early participants who secured SPCT at $0.008 look forward to a potential 10X ROI as the target price equals $0.08.
Learn more about the VC Spectra presale:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.