Bitcoin (BTC) has seen a 20% interest in trading volume and overall momentum as it has run past the $4,000 barrier. Although, few are ready to declare the bear trend reversal a thing of the past, but many traders will be watching closely to see if BTC can close above the $4k mark as it would signal positive strength in the short-term. Of course, one looming item to keep in mind is the maintenance of two major exchanges, BitFinex and BitMEX.

Volume is also something to be watching as recent volume has surpassed the median ($4.5 billion is the median) and current volume at the time of writing is 5.7B. This could strengthen the run for the markets most dominant coin leading to wider gains across the altcoin field (Ripple XRPBitcoin Cash BCHLitecoin LTC, EOS, and Stellar XLM recorded gains in the range of 3 to 12 percent on the day, demonstrating solid momentum over the last 24 hours).

The Relative Strength Index momentum indicator is confirming a neutral bias after overstaying inside the 50-60 area. Bitcoin can expect to rally towards $4,500 if the RSI jumps above 60.

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Also, research on transaction speed and time was circulating on Twitter recently. The gist of that research showed that BTC’s network is processing more transactions (75% more to be exact) and it is far cheaper than ever before. the BTC network has been processing between 200,000 and 250,000 transactions per day, but technological developments like SegWit, introduced in August 2017, allow for more transactions to be processed, as their size is decreased by segregating a large chunk of data that was, before the upgrade, contained within each transaction.

Late 2017, the Bitcoin network was processing over 450,000 transactions per day and, with a lot of data inside, this was slowing down the network. This saw transaction processing times increase along with the fees attached to them. At the time, BTC’s median transaction fees reached $34. However, the bear market has emptied out some of these transactions and Bitcoin’s average transaction fee is currently at a little under $0.18.

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