Analysis: Bitcoin 7-day average trading volume or heralds potential investor entry

Data from analysis platform Arcane Research shows that in the past week, BTC's 7-day average transaction volume was nearly $ 1 billion. As can be seen from the chart, the average 7-day Bitcoin transaction volume has been declining since July 2019, but experienced a trend reversal at the beginning of 2020. Despite its price falling by $ 1,000, Bitcoin's daily trading volume last week reached a record high in 2020. Historically, the rise in the average daily trading volume of Bitcoin has been supported by rising prices, which is a positive sign that potential investors are trying to step in and be bullish.