CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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Cryptocurrency Trading Volume and Trading Pairs

Trading volume in fiat market in general is the amount of a security traded within last 24 hours. In crypto market, where the term securities is replaced by tokens, i.e. the amount of token traded, which includes trade in and trade out both, in last 24 hours. The time frame of 24 hours is used by all the exchanges to publish their trading volumes for any of the tokens. For example, at the time of writing, Bitcoin volume traded at Binance was $180.86 million, at Okex was $1191.91 million and in total including other exchanges, was $1.11 billion. You can see the current trading volume at Cryptoz.ai. If we see large amount of volumes and prices, then it means that the trend is supported by many, and the prices might keep going up, while if at low price low volumes are observed, it might infer that only a few back the trend.

Trading volume can be considered most important metric in crypto currency market because slicing and dicing might lead to multiple sub metrics that might help understand the trend to a limited but useful extent. For example, trading volume for a currency in last 24 hours can be compared to that of last 7 days / 1 month, a low trading volume might indicate a change in crypto which might be unsupported, or considering a coin with frequent heavy movements that would not attract attention if it has high volume whereas a coin which generally have low volume, but it’s 24 hour volume increases, meaning a lot of transactions are being made, the coin policies or product backing it up might have pivoted for the better, thus gaining a lot of support. At Cryptoz.ai you can easily navigate through the different aggregated pre defined time scales for you which rage from 24 hour to all data from beginning with a granularity of daily, weekly, monthly or yearly data, thus making it easy for you to compare the volumes.

Trading pairs are another interesting metric that is used by crypto market analysts to lay down how strong a crypto is in comparison with other crypto currencies or fiat currencies. Trading pair generally written as crypto/crypto or crypto/fiat defines the price of a token if traded for in another token or a fiat currency. For example, BTC/ETH defines the price of BTC in ETH market, or simply put how much ETH you will get if you sell 1 BTC, or a BTC/USD defines the price of BTC in USD market i.e. price of BTC in US dollars. The volume of a specific trading pair defines that more tokens from first crypto token is moving to second crypto token. Might be a reason but not surely, that the second crypto is a form of liquidity that is much more stable than any of the other tokens, generally Bitcoin, litecoin and Etherium are used as the liquidity. You can easily watch for all trading pairs for individual crypto currencies, along with how the crypto is doing against all crypto market and all fiat market here.

Conclusion

Generally crypto market is much more volatile than the fiat market, and volumes are themselves a proof of it, they also provide as a great metric for crypto market analysis, and prove to be useful if not accurate metric. 

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What does it take for Bitcoin to achieve mass-adoption?

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

What does it take for Bitcoin to achieve Mass-Adoption?

The biggest obstacle for Bitcoin right now is, that so few people use Bitcoin. But why do so few people actually use Bitcoin from a day-to-day basis? Well, the answer is, because so few people use Bitcoin. That might sound a bit confusing right away, but I will explain myself.

Bitcoin has the obstacle to overcome, same as Facebook. Facebook became so valuable, because literally every friend of yours, and their parents where using it. If no one used Facebook, then I really doubt it would be nearly as valuable to humanity as it is today.

The same exact thing also applies to Bitcoin. What makes money valuable, is the fact that you can pay anybody for anything with it. Good luck paying your local supermarket in Bitcoins. It just doesn’t make sense to do so.

This is also called the network effect. It sates, that a system is only so valuable, as the number of people using that system.

So, let’s dive into the 3 deciding factors, that must happen for Bitcoin to fully achieve mass adoption.

First, of course, is the support by a big corporation or even country. For example, if a big company like McDonalds starts to accept Bitcoin, then people would be more inclined to make purchases with Bitcoin. This makes total sense, because why would anybody adopt the usage of Bitcoin, if you couldn’t make any real-world purchases with it? Exactly, it doesn’t make any sense whatsoever.

The first point was pretty obvious, so let’s look at the other deciding factors, that are crucial for Bitcoin to be mass-adopted.

Did you actually know, that a third of the world’s population, 2,5 million adults to be precise, do not have access to the banking system? Yeah, what people in the first-world countries take completely for granted, isn’t all that common all around the world: A bank account. On the other side, many more people in these third-world countries do have mobile phones, but no bank accounts. So, what if all those people start using Cryptocurrencies, like Bitcoin, for their online and day-to-day transactions? They could skip the traditional banking system and directly buy and sell Bitcoin from their smartphones. If one third (or even less) of the world population starts to use Bitcoin, it will gain world-wide recognition and overtake any other currency.

The third scenario that could happen, is that a major economic collapse or abuse occurs. When this happens, lots of people will want to transfer their wealth to something that isn’t dependent on any country or government, but is universally accepted in every country of the world. There aren’t many options for such things. One of these things is, gold. And the other could be Bitcoin, which I see as the digital version of Gold.

I hope we will never have to experience such a catastrophic event in our lifetime, but it sure is a positive thing for Bitcoin, since lots of people will adopt it.

These are all the point I could think of. Thanks a lot for reading and have an awesome day! Visit me at flashipcrypto.com for more Crypto-article?