Ok. Number of Bitcoin transaction increased double. Expect price increasing? - page 5.

tambok

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Quote from: joniboini on January 13, 2020, 01:10:52 AM

As mentioned, transaction increasing does not necessarily mean a price increase. There could be an increase of wallet address that is owned by a single person, somebody needs to distribute his funds to more people but does not necessarily sell them, an exchange needs to move their funds from a hot wallet in shorter time frame, etc.

A better metric to predict a price increase would be trading volume, with some indicators and tools. Other than that, analyzing the 'fundamental' status is also a good idea. Such as how many merchants and users are using Bitcoin, what's the improvement of the network on the future, is there any competitor, etc.

I don't know why people are always speculating and assuming that the price will increase during halving, although this is a major event in crypto world, still doesn't guarantee that the price will increase, still up to the people or to the demand if they will keep buying or not, what's good for now is that we do have positive start of the year.

stompix

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Blackjack.fun

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

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

You heard wrong or the guy telling you this was lying...
Not only have we not doubled the number of transactions but it currently almost impossible for that number to double.
We're sitting at 300k tx per day and the peak reached during 2017 was barely above 400k.

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

which means i can expect price increasing near future right?

With the above being false, you can expect ...anything

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?

Let's keep shitcoins in the shitcoin sections, right?

Quote from: joniboini on January 13, 2020, 01:10:52 AM

A better metric to predict a price increase would be trading volume, with some indicators and tools.

Trading volume?
With the amount of fake volume, we're having? That would be a worse indicator than the number of reindeer migrating daily between Sweden and Norway.

@1Referee
Who cares about facts, a guy told the OP it doubled, it must be true ! Wink

1Referee

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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.

AniviaBtc

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First 100% Liquid Stablecoin Backed by Gold

Quote from: joniboini on January 13, 2020, 01:10:52 AM

As mentioned, transaction increasing does not necessarily mean a price increase. There could be an increase of wallet address that is owned by a single person, somebody needs to distribute his funds to more people but does not necessarily sell them, an exchange needs to move their funds from a hot wallet in shorter time frame, etc.

A better metric to predict a price increase would be trading volume, with some indicators and tools. Other than that, analyzing the 'fundamental' status is also a good idea. Such as how many merchants and users are using Bitcoin, what's the improvement of the network on the future, is there any competitor, etc.

What a good strategy! But on the other hand, it is still risky because we're not certain when it will increase its price again. We all know that bitcoin is very unpredictable because of its volatility and how come that many people still trust bitcoin on its ability as a famous coin. From the start, bitcoin is really can go higher and higher when it is on its peak and that's the reason why hodling is very useful for us bitcoin fans. Patience is needed because nowadays there's no such thing as an instant money.

blckhawk

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You are hitting two topics on a single post. I don't know much on that token, but just always monitor the given exchange.

Regarding the doubling of transactions, it is possible that demand is increasing. But the usage of a currency does not really collerate to a higher price. What pumps up the price is the demand or buy orders on an exchange, which is basically hoarding. Though that's not the main purpose of Bitcoin, so higher price might not be the best case scenario, but rather adoption.

Wexnident

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Possibly, if the transactions recorded are transactions by unique users. If they were just made to transfer funds from wallet to wallet, There isn't really many expectations for it to increase, though in general, transactions would only increase in the future. Though I don't think it would affect the price by a large margin.

As for BPX, google it tbh. Just looked it up, Idk if it was the right token but the token was priced quite low, at $, so really, its value is close to nothing unless you have a large amount of them.

joniboini

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As mentioned, transaction increasing does not necessarily mean a price increase. There could be an increase of wallet address that is owned by a single person, somebody needs to distribute his funds to more people but does not necessarily sell them, an exchange needs to move their funds from a hot wallet in shorter time frame, etc.

A better metric to predict a price increase would be trading volume, with some indicators and tools. Other than that, analyzing the 'fundamental' status is also a good idea. Such as how many merchants and users are using Bitcoin, what's the improvement of the network on the future, is there any competitor, etc.

NathanJB

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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.

Quote

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 don't know about that token. Do a research about it and find out.

psjin128

newbie

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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?

Topic: Ok. Number of Bitcoin transaction increased double. Expect price increasing? - page 5. (Read 963 times)