Does the low volume means no one is spending or buying coins? Also, if the volume is so low why does it not affect the price?
Does this mean people are just hodling?
Just trying to work out the whole low volume thing.
I personally believe that low volume merely means that there is a sort of wait and see going on in respect to trading... sure bears would want to attempt to push it down, but they are waiting for others to sell their coins first before they join in. Bulls on the other hand would like prices to go up, but they are waiting for others to begin buying first. Both are a bit nervous about attempting to use their own coins to push the price in the direction that they would like.
Trade volume is one thing that actually affects price and transactional volume is another thing that probably does not depend so much on the price, even though probably people spend more bitcoin the higher the price of bitcoin (they buy more also).
I think that a fairly accurate representation of transactional value is the below linked graph.
https://blockchain.info/charts/transaction-fees-usd?timespan=1yearYou can see that overall more and more money is being spend on bitcoin transactions (not the same as trading)