Analysis: trading volume plummets and volatility stable or creating conditions for bitcoin soaring

As of November 17, 2019, the volume of major cryptocurrency exchanges fell to a three-month low and it appears to continue to fall. Trading volume began to decline on November 15 and quickly fell to current lows. Coinbase trading volume fell from $185 million to $65 million. The volume of currency security transactions fell from $1 billion to $517 million. Bitfinex's trading volume fell from $96 million to $39 million, while BitMEX's trading volume fell from $2.9 billion to $905 million. It is clear that the decline is the lowest level in the last three months. The biggest drop occurred at BitMEX, and the volume of transactions fell by more than 68%. This was followed by Coinbase, which fell more than 64%, and Bitfinex, which fell more than 59%, and the least affected was a drop of more than 48%.
In addition, the volatility of Bitcoin hit a low of 2.5% on October 25. Since then, the volatility has stabilized at around 4% in more than 20 days. The last volatility sideways was after the April rise, when Bitcoin rose from $4,100 to $5,600 in 30 days. Since then, the volatility has dropped, leading to more price increases. At present, this volatility seems to play a similar role, resulting in large price fluctuations. However, the direction of BTC is still unknown.