Article starts off by saying another 15% drop and it would be at a new annual low. Can't be bothered to check if that's accurate, but if we're at 15% above old lows, we're not really approaching anything. A lot less flesh once we're starting to ask Bitcoin to "demonstrate its strength" again, as the writer puts it, and he's ignoring all that volume that's picking up and off the charts he's using - p2p exchange, for example. Or those exchanges on off-chain transactions.
Once LN gets underway, this volume might even drop. That might actually be because Bitcoin's flexing its strength...
Once LN gets underway, this volume might even drop. That might actually be because Bitcoin's flexing its strength...
What I've been always interested in is what is the share of such exchanges in the overall Bitcoin trading volume. Although it's obviously impossible to pin down the exact percentage, maybe there is a chance to evaluate it at least approximately. No doubt there are many of p2p/off-chain transactions happening regularly, but I personally think that their volume can be negligible if compared to the known to everyone over 3 billion USD Bitcoin's daily trading volume.
I'd like to emphasize that what is interesting here is the volume and not the number of the transactions in question. It's a known fact that gambling sites, for example, process millions of off-chain transactions daily, but I think that their overall volume is not that big if compared to 500k BTC or so, shown on CoinMarketCap.
