Bitcoin number of transactions all time high?? BEAR MARKET IS GONE! - page 3.

pawanjain

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Nothing lasts forever

Quote from: TeslaWatt.com on March 09, 2019, 04:17:34 PM

Looks like we are out of bear market!

Please check number of transactions for the Bitcoin. Very close to all time high.
If this is not proof of adoption for some people I don't know what adoption should be like.

https://twitter.com/vradovic/status/1104489493229264896

Well I don't think that the number of transactions correlates to the BTC price because there can be many reasons as to why the transaction volume has been increased.
Many people have already stated the reasons of increase in transaction volume and the real reason can be any of them. The bear market has already gone though.
The bottom was near $3400 after which the price had started to increase. We are just holding the price now to near $3900 since we have a strong resistance at $4000.
If we break this resistance then the price will further go up to next resistance level and who knows before breaking that one we might face a small correction too.

Kakmakr

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High transaction volume does not normally indicate that a Bear market has ended. A few years back, high transaction volumes indicated that spam attacks were initiated. During the ATH in 2017 and a little prior to that, the spam attacks was also at a ATH to sabotage Bitcoin's progress and adoption and it nearly succeeded. Angry

I am not saying that this sudden spike in the transaction volume is linked to new spam attacks, but it is not a guarantee that it is a start of a Bull market either. Roll Eyes

Stac

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To my opinion after a hike. of 2017 bitcoin and all cryptocurrencies reached to a bearish market that nobody has imagined the aftermath of the the bullish to a bearish market gave a negative effect towards the global system some companies have to be cut down their businesses and even have to shut down .their projects .But by now this year there have been a slight improvement and it seems to be stronger and recovering to a bullish market Since it has been ten years past Bitcoin has not reached to its potential as a store of value as a global currency .

kkgfhj123

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Quote from: TeslaWatt.com on March 09, 2019, 04:17:34 PM

Looks like we are out of bear market!

Please check number of transactions for the Bitcoin. Very close to all time high.
If this is not proof of adoption for some people I don't know what adoption should be like.

https://twitter.com/vradovic/status/1104489493229264896

Number of transaction is one of the factor and also looks like we are out of bear market. Since 2020 is next halving the bull run may start from last quarter of 2019.

xvids

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I hope that this is it,
This would be the start of the bull run let the bear sleep,
We have been waiting for a long time so I hope that this would be the great bull run that would take the crypto to the moon.

franky1

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looking at the chart
going back for years. there was a nice healthy smooth curve increase.. PRE SEGWIT

but dated august 1st 2017 was the LOWEST tx count of 2017 with under 140k tx a day
then the numbers went all over the place.
including when segwits bech32 tx format got added in spring 2018
tx counts sent from 300k down to ~200k a day

..
just imagine that smooth curve of early 2017 continuing if the whole segwit stuff didnt flap around. and instead there was just a steady increment of legacy blocksize

kingpin4321

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I was just wondering does the fact that there was huge number of transcation mean that the bull run is over?
Well I feel this just help in the spread of bitcoin and it's adoption

franky1

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even as far back as 2010. they calculated using bitcoin as a cash payment meaning lean 1 in 2 out (1 out for destination, 1 out for change) would allow 7tx/s

this 7tx/s has been a known number for 9 years. it equates to 600k tx a day

even with all the "scaling" blah that devs pretend to have done over the last 9 years.. i dont think 285k tx a day is something to be excited about, especially 9 years later

bitcoin is 10 years old and still only 3.5tx/s

not allowing legacy transactions to surpass 1mb
hiding segwit data outside the 1mb to pretend byte per tx is lower when its just miscounted by wishy washy code and witness scale factor bull crap
and all the new features bloating the average tx size from ~250bytes to now being around 500bytes has not allowed more utility but less.
and whats coming next, deburden bitcoin of more utility so that people transact on other networks, thus less tx per day. thus ofcourse with pools eventually in years wanting more fee's will find they will charge users more per transaction.. further impeding bitcoin utility in favour of deburdening people away from bitcoin and instead populate and promoting other networks

Crypto Girl

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Quote from: Beerwizzard on March 10, 2019, 03:00:49 AM

The amount of transactions is not really related to the condition of the market and does not show a real demand in bitcoin. As you see, the number of transactions is growing while the bitcoin price remains at the same level. In this situation, the only thing we can get is increased miner fees.

I honestly second that. The transactions just show that people is constantly using bitcoin but not merely say that people are investing to it. The numbers aren't enough to conclude that we're heading in bull run. Maybe it would be best if instead of waiting for bull run why don't we fill our bags so if bull run happens we will just drink our coffee while laying on our profit.

Tom_13

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We have long been out of the bear market. It's just that most people have not understood this yet. I would say that now the price is stabilizing at the same level. The next will be the buildup of prices with subsequent growth

Beerwizzard

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The amount of transactions is not really related to the condition of the market and does not show a real demand in bitcoin. As you see, the number of transactions is growing while the bitcoin price remains at the same level. In this situation, the only thing we can get is increased miner fees.

pooya87

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Quote from: TeslaWatt.com on March 09, 2019, 04:17:34 PM

Looks like we are out of bear market!

we have been out of the bear market ever since price started its reversal a couple of months ago. people fail to see it because they think end of a bear market should start with a big ass rise to the moon! but in reality end of a bear market is a trend transition which takes time and starts with accumulation.

Quote

Please check number of transactions for the Bitcoin. Very close to all time high.
If this is not proof of adoption for some people I don't know what adoption should be like.

they are nowhere near ATH because of the massive spam attack that we had in 2017 it has manipulated ATH so there is no way we can easily get there.
it is one of many proofs of adoption though. not the best one.

No Pain No blood

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yes maybe it almost reaches the highest number of transactions. but the current situation is different from ATH yesterday. In 2017, many people made sending because they bought, but now they are different because they want to sell btc.

pushups44

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I'd say the number of transactions is a significant indicator of the potential value of the network, as use is associated with demand. Increased volume is also a potential sign of a market reversal. I don't know if we are out of the bear market right now, but if not we are probably close to it.

joniboini

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It is indeed not a proof of adoption, unless that new transactions comes from new users, or something similar. What we know so far is that those transactions comes exchanges, or traders who wanted to move their funds for whatever reason.

richminded

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Quote from: TeslaWatt.com on March 09, 2019, 04:17:34 PM

Looks like we are out of bear market!

Please check number of transactions for the Bitcoin. Very close to all time high.
If this is not proof of adoption for some people I don't know what adoption should be like.

https://twitter.com/vradovic/status/1104489493229264896

Its a great numbers and we can really day that we already hit the bottom. People are preparing for the next halving, they don’t want to be left behind for sure. Though the price doesn’t that high, this kind of volume is still significant for the future trend. Buy more bitcoin now, this is the shout of everyone here better not to miss the train.

ukloonion

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It is a useful statistic but we don't know if it's people dumping all their bitcoin to get out, or trading with various pairings. Price doesn't indicate that they are buyers but this chart will hopefully put them at ease to know that bitcoin is here to stay so they'd better invest quickly

TeslaWatt.com

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Looks like we are out of bear market!

Please check number of transactions for the Bitcoin. Very close to all time high.
If this is not proof of adoption for some people I don't know what adoption should be like.

https://twitter.com/vradovic/status/1104489493229264896

Topic: Bitcoin number of transactions all time high?? BEAR MARKET IS GONE! - page 3. (Read 615 times)