Quote from: sorrysteve1 on February 02, 2018, 06:21:41 PM

Quote from: coldst on February 02, 2018, 05:50:55 PM

Base on coinmarketcap, the trading volume for the last 24 hours increased almost 150%. I am guessing the whale is taking action in loading boats of coins. Believe or not, this may be the last call for shopping before the price goes up.

Name               Volume (24h)
Bitcoin               $13,397,000,000
Ethereum            $7,133,810,000
Tether               $5,069,610,000
Ripple               $3,466,970,000
EOS               $1,506,930,000
Cardano               $1,302,100,000
Bitcoin Cash            $954,899,000
Litecoin            $894,936,000
NEO               $568,874,000
Qtum               $543,201,000
Status               $482,764,000
Stellar               $390,449,000
TRON               $370,134,000
Eth Classic            $342,766,000
DigixDAO            $227,571,000
Dash               $145,194,000
Zcash               $134,184,000
IOTA               $132,801,000
Monero               $125,136,000
Steem               $121,335,000
aelf               $104,272,000
IOStoken            $103,562,000
ICON               $102,981,000
Binance Coin            $94,487,100

Volume increasing is generally a good indicator of something but it all depends on which way the price is moving, volume increasing but price falling would imply further falls are likely and then the opposite also if volume increase with price increase. I think we neared the bottom, 8k is too low and looking at any graph you'd be able to see that at a glance. The price will recover to around 13k in my expectation within the next 2 weeks.

This. Volume being high on a heavy red day is not actually a good thing, it just means that more people are joining in on selling their coins which compounds on the fall. Same thing goes for a heavy green day with a lot of volume. The only time that volume isn't a good indicator of the overall market sentiment is when the volume is low or flat. Volume being low means that the prices are likely being manipulated one way or another very easily without a true bull/bear sentiment in the overall market.