Topic: Is Bitcoin on the way out? - page 2. (Read 237 times)
The number of transactions has now fallen by half, because for more than two months the crypto-currency market is in stagnation and expectation. Someone in a panic has long sold their bitcoins, someone bought them at a cheap price and now all in anticipation of the revival of the crypto-currency market. This is not a drop in the popularity of the Crypto currency, it is likely similar to the seasonal decline in trading volume.
Bitcoin hype maybe getting cold, But mostly i think its because the devs are working way too slow.
The founders are not getting their mind set on the things they should improve on.
There are no "founders" for Bitcoin. And people who write code for Bitcoin are doing just fine. Testing for LN is going full force, and RootStock is making progress as well. The founders are not getting their mind set on the things they should improve on.
Bitcoin hype maybe getting cold, But mostly i think its because the devs are working way too slow.
The founders are not getting their mind set on the things they should improve on.
The founders are not getting their mind set on the things they should improve on.
It's called SegWit... Transactions are faster and cheaper now, so the backlog is smaller.
Yes, BTC is on the way out but it is a long way.
According to research firm Blockchain.info, transactions plunged from seven-day average of almost 400,000 in mid-December to about 200,000 this week.
Earlier this year, when bitcoin price fell by more than 60 percent from its recent peak, a lesser noticed bitcoin also plummeted: the number of daily transactions.
Even when Bitcoin price had a 50 percent return since Feb.5, the number of daily transactions has not recovered. This left investors wondering if the cryptocurrencies is declining in popularity.
Since it peaked in December, the average number of daily exchanges has decreased by half and touched its low in two year last month, even when bitcoin recovered to
$10,000.
Transactions data may be bad news for Bitcoin Bulls, according to Charles Morris - chief investment officer at Newscape Capital Group, London and also a cryptocurrencies investor.
“We had a hype cycle and now it’s getting cold”, Morris said. “It is possible that we are entering a bear market”.
However, with the above information, we can still expect a growth in others altcoin.
VCXCoinTeam
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