Apart from a few 'whale buys' there's not much action / volume lately. The price rising on low volume is not a good indicator for continued rises.
If you are looking at the volume traded in terms of USD, the volume looks about as high as it was during the initial run-up from mid-January to March
Which is precisely why looking at volume in THAT way is foolish.
Could you explain more?
It seems to me that people only have so much USD to move around. If the price of bitcoin doubles and the amount of USD traded stays the same, I'd say the volume traded is constant.
I think so too. You can't demand volumen in bitcoin grows with the price, cause there is a restricted number of coins.
And what you looked at is just the gox-volumen. If you add the volumen of other exchanges, its much higher than in march.