BTC regains investor confidence: increase in trading volume on CME and Bakkt

It looks like Bitcoin (BTC) has started to attract investors again after crashing below $4,000. April 2, according to the Skew website,Bitcoin futures operators recorded volumes that were close to mid-March.

CME Group announced a trading volume of $ 347 million for April 2, while at Bakkt this figure was $ 12 million for supplying bitcoin futures and $ 7.7 million for settlement.

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Last month, a drop in the price of bitcoin led to a panic, as a result of which the price fell in a few hours to $ 3600.

Since then, the price of the main cryptocurrency has recovered and increased by 93% compared to the March “bottom” (to $ 7170 on April 2). At the time of the preparation of this post, the Bitcoin exchange rate was $ 6974.30 (+ 4.71%).

Investor confidence in bitcoin has returned quitequickly, despite the uncertainties caused by the coronavirus. The desire for prices to $ 7000 becomes an anticipation of what should happen to bitcoin further.

JTS Jonathan Leong, co-founder of the BTSE trading platform, said he was “optimistic” about the future of bitcoin:

#Bitcoin breaks $ 7k # Bitcoin showing extraordinary resilience in what could possibly be the worst economic crisis yet, and its just getting started! #Bullish

- Jonathan Leong (@BTSEJonathan) April 2, 2020

“Bitcoin has broken $ 7000. It demonstrates exceptional resilience in the face of an emerging crisis, which may be the worst! ”

Even Bitcoin skeptics have expressed contempt for the highly controversial actions of the US government in response to coronavirus.

As the Fed began to pour money into the economy, also announcing "endless" money, people's attention has now focused on the fact that the American dollar is nothing more than a piece of paper.

The “Golden Beetle” and the adversary of bitcoin Peter Schiff spoke about the “rescue measures” of the government on his Twitter like this:

“Giving money to airlines is only forin order to save jobs that are no longer needed is a waste of taxpayer money. This leads to an improper distribution of labor resources and a decrease in the competitiveness of the American aviation industry. In the future, they will also need cash assistance. ”

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