Year-Long Overview: Bitcoin’s Daily Trade Volumes Peak at $118 Billion, 12-Month Mean at $24 Billion
Bitcoin has recently dipped below the $30K mark, but its 12-month performance against the U.S. dollar has been strong. On August 3, 2022, a single bitcoin (BTC) was trading at $22,846, and it has since risen by over 29%.
- Bitcoin hit a low of $15,599 per unit after the collapse of FTX on November 21, 2022, but rebounded impressively, reaching $31,814 on July 13, 2023.
- The mean average price of bitcoin from August 3, 2022, to August 3, 2023, settled at $23,317 per coin within the range of $15,599 to $31,814.52 per BTC.
- The daily global BTC trade volume reached its peak at $118.99 billion on November 8, 2022, while the lowest daily trade volume was $6.48 billion on July 29, 2023.
- The 12-month daily mean average trade volume for bitcoin is $24.18 billion, which is higher than the present daily trade volumes.
- Bitcoin’s dominance in the crypto market has risen from 40.34% in August 2022 to 48.7% as of August 3, 2023.
With bitcoin closing at $29,191 per coin on August 3, 2023, it is 2.42% lower than the month’s mean average of $29,917 per unit.
Hot Take
Despite bitcoin’s recent dip below $30K, its year-long performance has been impressive, with a significant increase in value and trade volumes. Bitcoin’s dominance in the crypto market has also risen, indicating its continued strength. While short-term fluctuations may occur, bitcoin remains a prominent and resilient cryptocurrency.
By
By
By
By