Ok. Number of Bitcoin transaction increased double. Expect price increasing?

NathanJB

sr. member

Activity: 756

Merit: 251

Quote from: Shasha80 on January 26, 2020, 11:48:59 PM

It is true that with increased bitcoin transactions this indicates that many people who have started to actively buy bitcoin can make
bitcoin prices increase. But to make it clearer, deeper analysis needs to be done, not to increase bitcoin transactions but the number
of people selling bitcoin is more than buying bitcoin, if like that can make the price of bitcoin decrease. And for Bispex (BPX) token
according to me the performance is quite good, can be hold for long-term if you want to feel a good profit. And for exchanges it can
be available at coineal, with USDT pairing.

Increase in transaction does not automatically mean a lot of people are buying Bitcoin. It could only mean a lot of people are using Bitcoin in paying for what they buy. In this case, it does not really mean an increase in price but increase in adoption.

Shasha80

sr. member

Activity: 1876

Merit: 318

It is true that with increased bitcoin transactions this indicates that many people who have started to actively buy bitcoin can make
bitcoin prices increase. But to make it clearer, deeper analysis needs to be done, not to increase bitcoin transactions but the number
of people selling bitcoin is more than buying bitcoin, if like that can make the price of bitcoin decrease. And for Bispex (BPX) token
according to me the performance is quite good, can be hold for long-term if you want to feel a good profit. And for exchanges it can
be available at coineal, with USDT pairing.

GideonGono

hero member

Activity: 2086

Merit: 501

★Bitvest.io★ Play Plinko or Invest!

Quote from: Yatsan on January 26, 2020, 10:46:18 AM

Quote from: Twentyonepaylots on January 26, 2020, 10:19:26 AM

Quote from: Vaculin on January 20, 2020, 04:24:11 AM

I wouldn't expect to see an increase right away, but I believe its effect will be felt in the long run.
Increase of transactions simply means increase of users, and that is called "adoption", which everyone is expecting for bitcoin in the long run.

I would say we are at the right patch now, so please be patient.

Increase in transactions doesn't necessarily mean that there had been a mass adoption. Price increase shouldn't be expected just yet, we have to ensure first of all that most, if not all of the transaction carried out were people cashing in, not cashing out. And aside from that this increase in transaction could be caused by the upcoming halving, which if it's the case then we might need to expect a dump after a month or two following the halving.

Nope, for me increasing the transaction means the cryptocurrency, especially the bitcoin, is getting a lot of new users, and that would apply the basic supply and demand law. If the demand goes higher and we all know that the bitcoin has a limited supply only, it can cause a pump or even a bull run. Bitcoin might get the new all-time high after the pump if the users are continuously increasing 100k USD will not be impossible achieving. Just let's wait after the halving on what is going to happen.

It is depend because if the a lot of holders do sell their token even there are a lot of demand then the price value must still the same. What I mean if the price value must stuck on the value that they want to sell then thats the value must go on. It would increase when we actually increase our selling price and do hold until buyers doesn't have any choice to buy even the price rise.

Magkirap

sr. member

Activity: 896

Merit: 267

★Bitvest.io★ Play Plinko or Invest!

Quote from: Yatsan on January 26, 2020, 10:46:18 AM

Quote from: Twentyonepaylots on January 26, 2020, 10:19:26 AM

Quote from: Vaculin on January 20, 2020, 04:24:11 AM

I wouldn't expect to see an increase right away, but I believe its effect will be felt in the long run.
Increase of transactions simply means increase of users, and that is called "adoption", which everyone is expecting for bitcoin in the long run.

I would say we are at the right patch now, so please be patient.

Increase in transactions doesn't necessarily mean that there had been a mass adoption. Price increase shouldn't be expected just yet, we have to ensure first of all that most, if not all of the transaction carried out were people cashing in, not cashing out. And aside from that this increase in transaction could be caused by the upcoming halving, which if it's the case then we might need to expect a dump after a month or two following the halving.

Nope, for me increasing the transaction means the cryptocurrency, especially the bitcoin, is getting a lot of new users, and that would apply the basic supply and demand law. If the demand goes higher and we all know that the bitcoin has a limited supply only, it can cause a pump or even a bull run. Bitcoin might get the new all-time high after the pump if the users are continuously increasing 100k USD will not be impossible achieving. Just let's wait after the halving on what is going to happen.

Well yes the law of supply and demand can be present but it won't happen easily or instantly, price increased isn't easily attained just because the transactions doubled and also the doubled transaction doesn't directly mean that there are new users of crypto, it can mean that currenct users transact more than they do but the adoption is still open so let us all hope for the mass adoption of bitcoin that will give us a stable growth for cryptocurrency.

fiulpro

hero member

Activity: 1890

Merit: 831

Transactions means adaptability , now if the market demand is increasing then one should understand that more and more people are getting into this system , now this won't increase the price drastically but with time this price will increase slowly and this growth will be slow and steady .
This is the kind of growth that will actually last .
Therefore I personally think that we can actually expect the price to increase ofc .

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: Twentyonepaylots on January 26, 2020, 10:19:26 AM

Quote from: Vaculin on January 20, 2020, 04:24:11 AM

I wouldn't expect to see an increase right away, but I believe its effect will be felt in the long run.
Increase of transactions simply means increase of users, and that is called "adoption", which everyone is expecting for bitcoin in the long run.

I would say we are at the right patch now, so please be patient.

Increase in transactions doesn't necessarily mean that there had been a mass adoption. Price increase shouldn't be expected just yet, we have to ensure first of all that most, if not all of the transaction carried out were people cashing in, not cashing out. And aside from that this increase in transaction could be caused by the upcoming halving, which if it's the case then we might need to expect a dump after a month or two following the halving.

Nope, for me increasing the transaction means the cryptocurrency, especially the bitcoin, is getting a lot of new users, and that would apply the basic supply and demand law. If the demand goes higher and we all know that the bitcoin has a limited supply only, it can cause a pump or even a bull run. Bitcoin might get the new all-time high after the pump if the users are continuously increasing 100k USD will not be impossible achieving. Just let's wait after the halving on what is going to happen.

Triffin

sr. member

Activity: 952

Merit: 251

Quote from: sisule on January 25, 2020, 11:13:00 AM

Quote from: vintages on January 23, 2020, 09:57:03 AM

Quote from: luppecuppe on January 20, 2020, 04:57:08 PM

Bitcoin transfer times are getting longer. I am not very happy with this situation. But bitcoin value is increasing. People's interest in bitcoin is growing. For payments instead of Bitcoin, XRP or Eth can be preferred.

I think the transaction delay may be what is pissing some people off, and that because they are not implementing the use of Lightning Network. Most people don't even know it exist yet they complain of slow transfer. This is why every cryptocurrency enthusiast should read deeper about Bitcoin before engaging in it.

Delay transaction when sending bitcoin depend with how much transaction volume during you sent your bitcoin to another wallet, when you send have little other transaction with bitcoin just take few minute for receiving bitcoin to destination address, but when you send bitcoin have other transaction waiting little long time.

Yes increasing the number of bitcoin for each transaction is actually the number of bitcoin as if you will transact more bitcoin so it will take more time and for some it will take little time. Long ago people have paid high free and also waited long time for the transaction from one wallet to other even for 24 hours and now we are so much facilitated so better keep patience than complaining.

Twentyonepaylots

sr. member

Activity: 1918

Merit: 370

Quote from: Vaculin on January 20, 2020, 04:24:11 AM

I wouldn't expect to see an increase right away, but I believe its effect will be felt in the long run.
Increase of transactions simply means increase of users, and that is called "adoption", which everyone is expecting for bitcoin in the long run.

I would say we are at the right patch now, so please be patient.

Increase in transactions doesn't necessarily mean that there had been a mass adoption. Price increase shouldn't be expected just yet, we have to ensure first of all that most, if not all of the transaction carried out were people cashing in, not cashing out. And aside from that this increase in transaction could be caused by the upcoming halving, which if it's the case then we might need to expect a dump after a month or two following the halving.

sisule

sr. member

Activity: 420

Merit: 250

Quote from: vintages on January 23, 2020, 09:57:03 AM

Quote from: luppecuppe on January 20, 2020, 04:57:08 PM

Bitcoin transfer times are getting longer. I am not very happy with this situation. But bitcoin value is increasing. People's interest in bitcoin is growing. For payments instead of Bitcoin, XRP or Eth can be preferred.

I think the transaction delay may be what is pissing some people off, and that because they are not implementing the use of Lightning Network. Most people don't even know it exist yet they complain of slow transfer. This is why every cryptocurrency enthusiast should read deeper about Bitcoin before engaging in it.

Delay transaction when sending bitcoin depend with how much transaction volume during you sent your bitcoin to another wallet, when you send have little other transaction with bitcoin just take few minute for receiving bitcoin to destination address, but when you send bitcoin have other transaction waiting little long time.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: iamMhew on January 19, 2020, 10:14:51 PM

Quote from: 1Referee on January 13, 2020, 03:52:55 AM

https://bitinfocharts.com/comparison/bitcoin-transactions.html#6m

Transaction volume on-chain is actually going down slowly. Not sure what gave you the impression that it doubled, but that's simply not true.

https://bitinfocharts.com/comparison/ethereum-transactions.html#6m

Ethereum transactions saw a decline in the same period as well, which is indicative of how poor the sentiment is. People are more active when prices are going up then slowly exit when the price doesn't want to go up anymore.

Thanks 1Referree for the data, This is one of my questions also when I read the post, where is the reference data. Everyone should post something should back up with a relevant data. Not just a mere hearsay.

It is very easy for people to fall on this, whenever they read something in social media they just assume it is true even if that is very dangerous attitude, whenever someone tells you something extraordinary then you need to stop and question yourself if that is true.

In this case as it has been proven the number of transactions has not really doubled and as such it was impossible this had any effect on the price, people are always trying to look for pattern in the sea of information in which we are found ourselves every day but even if it was true I do not see how the number of transactions could affect the price of bitcoin.

vintages

full member

Activity: 966

Merit: 153

Quote from: luppecuppe on January 20, 2020, 04:57:08 PM

Bitcoin transfer times are getting longer. I am not very happy with this situation. But bitcoin value is increasing. People's interest in bitcoin is growing. For payments instead of Bitcoin, XRP or Eth can be preferred.

I think the transaction delay may be what is pissing some people off, and that because they are not implementing the use of Lightning Network. Most people don't even know it exist yet they complain of slow transfer. This is why every cryptocurrency enthusiast should read deeper about Bitcoin before engaging in it.

Karmakid

sr. member

Activity: 742

Merit: 397

If the transactions involved with bitcoin is about receiving bitcoin rather than sending bitcoin out, then there is a possibility that bitcoin will go up in price because it reflects a good amount of fiat money coming in the market of bitcoin. As the demand for a certain product goes up, the supply goes down so it will make the price to go up and it will give its holders or investors a profit because of price appreciation.

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: psjin128 on January 12, 2020, 09:42:56 PM

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?

It does not necessarily mean that as operations increase the price increases, in many cases they often use many bots to perform such operations, what can increase the price is adoption, in some part it is good that stablecoins close to launch drive people to know about technology, and it will be an easy way to go to get to Bitcoin, if more people enter the market, it will be able to generate more demand, and by decreasing the offer the price increase will be generated.

magneto

hero member

Activity: 1666

Merit: 753

There's no point trying to extrapolate information from unproven data that can be completely irrelevant - this is an instance of exactly that.

Bitcoin transaction volumes could be a function of price, instead of the other way aronud. We'd be assuming that bitcoin transactions are the independent variable to price when in fact, it could be dependent on price. And it makes sense for BTC transactions to double over time in the long haul as well, since adoption is increasing, and we're recently experiencing a very strong start to 2020 in terms of BTC price growth.

Short term, look at TA, and long term, look at fundamentals. No point looking to these irrevelant statistics.

CodyAlfaridzi

hero member

Activity: 1708

Merit: 541

Quote from: psjin128 on January 12, 2020, 09:42:56 PM

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?

I've never seen an analysis of correlation for number of transaction and price. But still, it could be a good thing, that is actual people using Bitcoin but it could also be just a spam transaction like the one that we had in 2018 2019. But if there are actually more people using Bitcoin then yes, it's a good thing. I've also read that the hashrate keeps on making new high this months which is bullish in general imo,

Quote from: psjin128 on January 12, 2020, 09:42:56 PM

Btw, i recently got airdrop token, which is exchange token, BPX?

Do you guys think that this kind of token may have a good value or nothing?

Nah, dump them asap.

bettercrypto

sr. member

Activity: 1498

Merit: 271

DGbet.fun - Crypto Sportsbook

Quote from: NathanJB on January 12, 2020, 10:26:23 PM

Quote from: psjin128 on January 12, 2020, 09:42:56 PM

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?

The rising of Bitcoin transaction is expected in the long run. Despite short-term fluctuations, it is rising in the bigger picture.

The price is a different story. The number of transactions is not directly correlated to the price such that an increase in transactions is not necessarily equal to an increase of price.

Yes, there is no correlation between price and number of transactions because a person can transact multiple times but he can't buy bitcoin always. Probably, if he will buy btc there is a possibility that he buy for a bulk. If it not, he is lose in trading fees.
However, there is a positive response from having a lot of transactions. It means that time by time, people are more using bitcoin payment. And it is a sign for a price surge of bitcoin.

Aying

sr. member

Activity: 784

Merit: 251

https://raiser.network

Quote from: psjin128 on January 12, 2020, 09:42:56 PM

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?

Btw, i recently got airdrop token, which is exchange token, BPX?

Do you guys think that this kind of token may have a good value or nothing?

I think the increasing of bitcoin happening everyday is more than that, everyone saw bitcoin everywhere in online store because I heard that bitcoin is one on the list of their transaction options. so we can expect that many users will arrive and want to use bitcoin for easy transactions.

TheCoinGrabber

sr. member

Activity: 994

Merit: 302

Quote from: 1Referee on January 13, 2020, 03:52:55 AM

https://bitinfocharts.com/comparison/bitcoin-transactions.html#6m

Transaction volume on-chain is actually going down slowly. Not sure what gave you the impression that it doubled, but that's simply not true.

https://bitinfocharts.com/comparison/ethereum-transactions.html#6m

Ethereum transactions saw a decline in the same period as well, which is indicative of how poor the sentiment is. People are more active when prices are going up then slowly exit when the price doesn't want to go up anymore.

Maybe he just thought that coz the price is rising people must be buying or trading more. It seems that currently we've reached a sort of plateau again. Maybe someone need to inject money in again to trigger people to move once more.

luppecuppe

full member

Activity: 518

Merit: 102

Bitcoin transfer times are getting longer. I am not very happy with this situation. But bitcoin value is increasing. People's interest in bitcoin is growing. For payments instead of Bitcoin, XRP or Eth can be preferred.

btcmurat

sr. member

Activity: 840

Merit: 253

When the number of Bitcoin transactions increases, watch the market carefully. Bitcoin volume may be increasing. When bitcoin dominance increases, altcoin prices will drop. However, the increase in bitcoin transactions means that interest in bitcoin is increasing.

Topic: Ok. Number of Bitcoin transaction increased double. Expect price increasing? (Read 963 times)