After the 2016 halving event, the average monthly trading volume of Bitcoin has increased rapidly. At that time, the trading volume of Bitcoin was around $500.

While comparing Bitcoin’s recent performance with the last halving event’s performance, the crypto industry realized that it has grown tremendously in the market.
<h2>Second Halving Event Bring In Drastic Changes</h2>
After the second halving event of Bitcoin, a drastic change has been noticed in the whole crypto space infrastructure. But at that time, it was important to numbers in the context.

Recently, Crytpowatch <a href="https://twitter.com/cryptowat_ch/status/1259831524335259648?s=21" target="_blank" rel="noopener">tweeted</a> that in June 2016, the monthly volume of spot trading volume reached its peak with $1.5 billion, which in April 2020, reached around $30 billion.
<blockquote class="twitter-tweet">
Did you know that Bitcoin’s trusted spot market volumes have increased by over 50x since the 2016 halving?
Find out more in our short thread below ? <a href="https://t.co/wjJRlP5MEy">pic.twitter.com/wjJRlP5MEy</a>

— Cryptowatch (@cryptowat_ch) <a href="https://twitter.com/cryptowat_ch/status/1259831524335259648?ref_src=twsrc%5Etfw">May 11, 2020</a></blockquote>
A report states that the average spot trading volume in the year 2020 is 50x higher than the year 2016.

In the year 2016, even the google search for Bitcoin halving had overtaken everything and in today’s time, it is 4x higher than earlier one. However, it is uncertain that the current rise in google search is because of FOMO or fundamentals at play.
<h2>Bitcoin’s Bullish Momentum Stalled</h2>
Earlier, after the halving event was held, the price of each Bitcoin surged from $400 to $600 by the year-end. After going through the last two halving events results, the crypto enthusiasts predicted that the third event would also be bullish.

Although Bitcoin has a bullish momentum, on May 11, 2020, it experienced a fall and reached around $8,600.

On May 10, Bitcoin liquidated at 1.3 billion and a very next day it rises 1 percent. Though, market experience some short-term gains when Paul Tudor Jones, the manager of the hedge fund, mentioned that his approx. 2 percent of assets are in Bitcoin.

Currently, all debates regarding ‘priced in’ has been resolved and as the third halving event is completed, so it is clear now that the bullish momentum of Bitcoin is suspended.

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Bitcoin's Trading Volume Has Peaked 50x From Last Halving

After the 2016 halving event, the average monthly spot trading volume of Bitcoin in the year 2020 is 50x higher than the year 2016.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Bitcoin's Trading Volume Has Peaked 50x From Last Halving

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