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

NathanJB

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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

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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

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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.

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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

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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

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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.

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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

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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

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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

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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

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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

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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

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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?

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

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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

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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?

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

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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

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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?

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

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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

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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

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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.

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Quote from: Eugenar on January 20, 2020, 12:36:10 AM

Quote from: clickerz on January 20, 2020, 12:06:39 AM

Add to that is the hype that the situation in Iran, Venezuela, etc created. It created the hype that everyone being aware even not from that situation ride the situation and increasing the transactions. The more people being aware, the more they will use bitcoin and hopefully adoption which we expect is here.

On my opinion, the situation in iran is quite obsolete to be taken as the reason for the sudden increase in transaction rate we are experiencing right now. Yes, there might be an implication with this tension to the market but that is for about weeks ago already. Market correction has already done last week and the reason for me is because it is time already, that most of the traders see the good chance to buy at this time, and it is purely based on the market itself with a little push by the thoughts of bitcoin halving that will probably occur soon.

It could've caused a sudden dump or something in bitcoin's price if we were to consider the conflict going around Iran right now. But since it's so miniscule in regards to it's impact to bitcoin's price, we can't really give credit to the issue arounf Iran right now. Apart from that, the increase in transactions won't necessarily mean that bitcoin's price is going to increase, it has to be mostly cashing in and lesser people pulling out in order to make an increase, and it also have to be a large number of people doing this in order to make a difference in the price.

rizkyalhabsy

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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?

i am not sure about it, busy network can means more than it, probably because that, probably because just for make a fake scheme.

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?

never heard, sorry.but so far i heard 1BPX= 1 usd

hello_good_sir

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The number of transactions on the bitcoin network may be correlated with Bitcoin price - we won't even discuss whether weakly or strongly.

But that doesn't mean that it's the *cause* to bitcoin price hikes. It could be possible that it is simply a delayed reaction to bitcoin price rallies, not the other way around.

That is the important distinction to make. Besides, even if it does play a role in somewhat shaping demand for BTC, I doubt that it supersedes the other factors influencing demand, like the 4 year cycles under which BTC prices operate under.

Vaculin

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Winding down.

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.

Latviand

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Quote from: AniviaBtc on January 13, 2020, 02:01:16 AM

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.

Actually, bitcoin transactions at this moment is lower than before and also, the market transaction has nothing to do with the market price as long as the transactions are settled in a low market value. Demand will be the factor along with the market volume that would make changes with regards to the market price of a crypto not only Bitcoin. So be careful still and do not be carried away by the hype just because someone told you to do so.

Eugenar

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Quote from: clickerz on January 20, 2020, 12:06:39 AM

Add to that is the hype that the situation in Iran, Venezuela, etc created. It created the hype that everyone being aware even not from that situation ride the situation and increasing the transactions. The more people being aware, the more they will use bitcoin and hopefully adoption which we expect is here.

On my opinion, the situation in iran is quite obsolete to be taken as the reason for the sudden increase in transaction rate we are experiencing right now. Yes, there might be an implication with this tension to the market but that is for about weeks ago already. Market correction has already done last week and the reason for me is because it is time already, that most of the traders see the good chance to buy at this time, and it is purely based on the market itself with a little push by the thoughts of bitcoin halving that will probably occur soon.

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Quote from: chip1994 on January 19, 2020, 02:13:47 AM

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 increase in volume was due to the high demand for bitcoin at the time. it stems from political turmoil and countries at risk of war. That's why the price of both bitcoin and volume have risen sharply in recent days. Another great thing is the halving event, only 118 days from now it will officially take place. That is also the main reason for the increasing demand of bitcoin and hope that in the future it will continue to increase to reduce inflation rate of fiat.

Add to that is the hype that the situation in Iran, Venezuela, etc created. It created the hype that everyone being aware even not from that situation ride the situation and increasing the transactions. The more people being aware, the more they will use bitcoin and hopefully adoption which we expect is here.

iamMhew

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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.

Myfe

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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?

No. Unfortunately the popularity of bitcoin transactions will not drive the price up UNLESS we have more people buying bitcoin (new) using any other currency and the general population of bitcoin owners not cashing out their bitcoin for any other currency.

For the price of bitcoin to rise, we need more people buying bitcoin and fewer people selling bitcoin. Transactions from one person to another using bitcoin have a neutral effect on its valuation/price.

So, while the volume of bitcoin transactions doubling is a positive thing for us to infer that it'll increase the value of bitcoin it depends more on who is doing the buying and if the transactions are net new purchases of bitcoin.

Dart18

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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?

This is just a small way for his post under to be recognized.
There is no need to answer 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?

Are you joking?
You are the one who announced about the airdrop?
Did you hit your head or something?

https://bitcointalksearch.org/topic/m.53567055

julius caesar

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People are now buying bitcoin because of the halving that might happen in April. They are taking the opportunity to have it while the price of it is not yet high and be able to gain profit into it. We are expecting price increase since people are now buying bitcoin and the demand into it will be high that will lead to rise up of price.

SquallLeonhart

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Okay we need to remove the elephant in the room and close this discussion all together. First of all the number of bitcoin transactions wasn't increased double at all, that is a wrong statement, you can literally check it on blockchain yourself whenever you want. https://www.blockchain.com/tr/charts/n-transactions?timespan=1year . Here is the link to transactions in the past 1 year that has happened every single day, the latest was 323k for example.

Now, to speak truly there was a bottom of 250k recently which is quite low for bitcoin but that was new years day so maybe everyone was just too hangover for trading Cheesy

however even with that 323k is not "double" of 250k, plus in the past 1 year we have seen as high as 452k as well so 323k is not something new, its something we are very used to.

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Quote from: moviebuff777 on January 16, 2020, 12:04:40 PM

Well it could mean that adoption is increasing which is good. It’s hard to know what it really means though but it is a positive thing for sure.

I doubt it's because the adoption is increasing. When bitcoin hits ATH the transactions generated each minutes are really enormous to the point where the fee required increasing so high it takes approximately $6 for a transaction and it took so much time just to get a confirmation. It's always like this when the market is bullish. I don't know why but it seems there's some kind of pattern that we could actually feel regarding the occurence of all these sudden increase of transaction number. Maybe a group of whale making movement?.

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I can't say much about the token, but I don think that rise in transactions has actual contribution towards price growth. Even if it's circulated in a close group, it's not totally isolated so price can surely grow as it gets more adopted by users. In the bigger picture, price will grow due to supply vs demand.

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Quote from: TitanGEL on January 19, 2020, 12:51:13 AM

Higher transactions and higher hash rate doesn't have effect to the price of bitcoin. The main factor that affects the price is the demand and supply. It is not realistic to expect double price of the bitcoin just because the transaction increase. The recent increased in terms of transaction is only normal because the awareness is keep spreading all over the world.

Today we are now experiencing the price of the bitcoin goes up, and this is good news because after being stable for almost a week, the rate now is rapidly increasing. It is better to sell our money now because there is a chance that the bull run is coming over. However, still, we have a different opinion to earn more income. Also, there is no too much affect of the changes of the bitcoin into other coins because they have different factors why does the price of those coins goes up sometimes because of the investors that put their money into the specific currency.

chip1994

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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 increase in volume was due to the high demand for bitcoin at the time. it stems from political turmoil and countries at risk of war. That's why the price of both bitcoin and volume have risen sharply in recent days. Another great thing is the halving event, only 118 days from now it will officially take place. That is also the main reason for the increasing demand of bitcoin and hope that in the future it will continue to increase to reduce inflation rate of fiat.

JeffBrad12

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Quote from: Eclipse26 on January 15, 2020, 08:45:15 AM

The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

Quite the opposite the number of transaction increases because the price of bitcoin is pumping. While I actually believe that there's no correlation regarding the number of transactions and price increase, the current bullish market however still encourage people into making movement whether sending it to another address or to the exchange which means increased transaction number.

TitanGEL

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Higher transactions and higher hash rate doesn't have effect to the price of bitcoin. The main factor that affects the price is the demand and supply. It is not realistic to expect double price of the bitcoin just because the transaction increase. The recent increased in terms of transaction is only normal because the awareness is keep spreading all over the world.

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Quote from: JeffBrad12 on January 18, 2020, 05:39:42 PM

Quote from: Eclipse26 on January 15, 2020, 08:45:15 AM

The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

Quite the opposite the number of transaction increases because the price of bitcoin is pumping. While I actually believe that there's no correlation regarding the number of transactions and price increase, the current bullish market however still encourage people into making movement whether sending it to another address or to the exchange which means increased transaction number.

Increased transaction could mean increase in the use of Bitcoin but not necessarily increase in the purchase of Bitcoin. Having said this, increase in transaction does not necessarily end up increase in price. Increase in transaction does not necessarily mean there is new money or investment entering the market.

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Quote from: moviebuff777 on January 16, 2020, 12:04:40 PM

Well it could mean that adoption is increasing which is good. It’s hard to know what it really means though but it is a positive thing for sure.

Not really, when the number of transactions go up, that only means that those that are holding bitcoin right now are using it more often, this could mean several things, it could mean they are selling it, it could also mean they are buying it, or it could mean there has been an increase in the use of bitcoin as a currency but it does not necessarily point towards a bigger number of people adopting bitcoin.

While an imperfect metric the best that we have to know that is to look at the number of new addresses being used, while it is obvious many of those addresses will belong to people already holding bitcoin that are just moving their coins or receiving payments at the same time if there is a large peak in that number that could indicate an increase in the number of new users.

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Transactions usually doesn't mean as much because how much money is involved in that matters the most. Just recently it came out that there is close to 10 million bitcoins that haven't moved over a year, assuming that is a fact, do you really think that we are getting any increases soon?

For a whole year with less and less money moving we managed to hit from 3k to $14k to $7k and now at around $9k, you think that may change just because there are some more transactions? Believe me, there are much better indicators than transaction numbers plus there has been no "double" anytime soon neither so I think you should recheck your sources as well. In the end we are going for a bull run, it may not have anything to do with transactions, just a big hype around bitcoin and that's it.

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Quote from: Janation on January 16, 2020, 05:52:11 AM

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?

That could mean two things.

Either Bitcoin is being sold or Bitcoin being bought. We don't know if it is the latter or not but let's hope that it is. It is true that the higher the demand, the price, and if a lot of Bitcoin is being sold, then let's expect a price pump. Another thing is that this is kind of expected for 2 years ago, I read a post about the blockchain. It can't hold the huge number of transactions so it should be developed. It is also said that the transaction will blow up in the future and I think that is what's happening by now.

Yes, the increase in the transaction of bitcoin can be vice-versa situations but an increase in the transaction is definitely a sign of an increase in traffic. What i don't understand in your statement is about the blockchain which you said you heard to blow up in the future. What do you mean specifically by the blow-up?

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Quote from: avatar_kiyoshi on January 16, 2020, 12:56:51 PM

Let's compare the price between May'19 and the late of 2017.
May 2019 = $9,005
The late of 2017 = nearly $20k
This proves that the number of transaction and the price is have no correlation.

But if you compare these two graphs:
https://www.blockchain.com/charts/n-transactions?timespan=all
https://www.blockchain.com/charts/market-price?timespan=all

The shape is somewhat similar. By mere guessing, I think it should have some degree of correlation. It might not be a perfect positive correlation though. Learn more about correlation here: https://www.investopedia.com/terms/p/positive-correlation.asp

Anyway, keep in mind that correlation is not causation; it only indicates that both variables move in the same direction.

Quote

Positive correlation is a relationship between two variables in which both variables move in tandem—that is, in the same direction. A positive correlation exists when one variable decreases as the other variable decreases, or one variable increases while the other increases.

https://www.investopedia.com/terms/p/positive-correlation.asp

That said, if the number of Bitcoin transactions goes up, it doesn't mean that the price will go up as well. Maybe in reverse, if Bitcoin price increase, the number of transactions will also increase.

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Well it could mean that adoption is increasing which is good. It’s hard to know what it really means though but it is a positive thing for sure.

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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?

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?

Hmmm, I have heard of several reasons that can lead to an increase in Bitcoin (BTC) price and an increase in the rate of transaction has never been one of them, maybe it can signify that there is increase in usage and adoption, but it doesn’t really mean there will be increase in the price. If you talk about reasons that can make the price to increase then you should be talking about the rate of supply and the demand; a constant demand and lower supply can cause a spark that will make the price to rise.

The next thing that can affect the price is cost of production, miner’s rewards, exchanges , etc. So transaction is not part of it, I’m only looking forward to the next halving, that might lead to a bull run.

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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?

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?

Where did you get the information from.? Or is it just a proxy post to advertise your BPX airdrop.?

The number of transactions have not increased and its still decreasing in the long run. But before there used to be allot of dummy transactions which eventually stopped, which is good for the network. We may see more transactions if there is widespread adoption of btc and crypto.

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Quote from: meliodas on January 16, 2020, 05:26:40 AM

In this case, yes. The number of transaction that has been increased in the blockchain of bitcoin means that there is a lot of people that are now into bitcoin. In simple economics, the more the demand, the higher the price that we are going to see. The number of transactions is the reflection of the demand of bitcoin in the market so it is equal to a price spike in bitcoin.

The fact is number of transaction going down slowly compared to last year, it's around 330.500k now, last year(May 2019) around 450.400k and the peak in 2017 around 490.400k. As you can see the number of transaction between May'19 and the late of 2017 is almost the same.
Please reference here: https://bitcointalksearch.org/topic/m.53591479

Let's compare the price between May'19 and the late of 2017.
May 2019 = $9,005
The late of 2017 = nearly $20k
This proves that the number of transaction and the price is have no correlation.

sisule

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Quote from: gweedo on January 16, 2020, 07:40:06 AM

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?

A lot of similar topics have been around lately. The OP writes about an issue and then redirects to the BPX airdrop, which is clearly an intentional action from the people who created this airdrop or the people involved in it. I don't know about this airdrop, but with the way it appears here for days, I believe this is a bullshit airdrop and a useless project. And in addition bitcoin is in a bull phase and surely in 2020 we will see huge growth coming from this market.

Different with topic he made where discussing about bitcoin transaction and talking about with airdrop project, maybe he made on other topic by discussing with airdrop or bounty campaign tread section, always have place each other where have to make post discussion about bitcoin prediction price and discussing with bounty and airdrop project.

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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?

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?

A lot of similar topics have been around lately. The OP writes about an issue and then redirects to the BPX airdrop, which is clearly an intentional action from the people who created this airdrop or the people involved in it. I don't know about this airdrop, but with the way it appears here for days, I believe this is a bullshit airdrop and a useless project. And in addition bitcoin is in a bull phase and surely in 2020 we will see huge growth coming from this market.

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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?

That could mean two things.

Either Bitcoin is being sold or Bitcoin being bought. We don't know if it is the latter or not but let's hope that it is. It is true that the higher the demand, the price, and if a lot of Bitcoin is being sold, then let's expect a price pump. Another thing is that this is kind of expected for 2 years ago, I read a post about the blockchain. It can't hold the huge number of transactions so it should be developed. It is also said that the transaction will blow up in the future and I think that is what's happening by now.

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In this case, yes. The number of transaction that has been increased in the blockchain of bitcoin means that there is a lot of people that are now into bitcoin. In simple economics, the more the demand, the higher the price that we are going to see. The number of transactions is the reflection of the demand of bitcoin in the market so it is equal to a price spike in bitcoin.

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Actually, more transactions doesn't necessarily mean more inflow intp Bitcoin. Transactions could be buying, selling and even just mere transfer of funds. However, the transactions might have been more of buying. And, for whether, we should be expecting a increase in price, of course, it is always bound to happen. It's just a matter of time. whatever project has a good a product will surely move high up as the market goes up.

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Quote from: Duzter on January 14, 2020, 03:55:19 AM

The increase in the number of transactions won't reflect directly in the increase in price of bitcoin. The increase in the transactions cause the market circulation to be high. This means it cause continued price fluctuation, and the inflow of investment by the time end up with the increase in the price of bitcoin. More the number of transactions more is the growth taking it to mainstream usage.

therefore, an increase in the number of transactions will certainly have an impact on more significant growth, although initially fluctuations are very strong but still with an increase in the transaction is a proof of greater demand and will continue to increase prices continuously and gradually

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Quote from: merchantofzeny on January 13, 2020, 08:48:18 AM

Likely these are people that don't have a large stockpile hoarded yet and trying to get more in before the halving. Or who knows, maybe whales are slowly driving up the price now to magnify the effect of any increased demand close to halving.

Whichever the reason, just stick to a plan and you wouldn't be disappointed.

May be? I agree with this man, considering the idea that halving is just there close enough that is why people are buying now to have some stock plus the market is close to support level, or may be it is from the tension between two countries (which I supposed, not really the cause). Either way there are more factors to be considered, but these are just imo could be possible factors.

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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?

This is uncertain, probably because bearists and bullishs are struggling to win. You can see the win is in favor of the bullishs but it is unclear what the future will be. we can predict with a lot of news like the Halving event or the chaos between countries. In addition, we can consider important indicators such as MACD, RSI. It will give us a more accurate signal.

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This was in fact, a good analogy and comparison to state that if the number of transaction of a cryptocurrency is increasing, so as the market price of it, though, in a short run it is possible that most transaction is mostly focused on selling, the price will fall down. Going back, for a long time, transaction rate means traffic, and traffic means more people is using the system leading to huge demand of it. No matter how much transaction in a long run will tend to sell, price of bitcoin will go up because of demand.

DevilSlayer

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It is not like that, it does not mean that the bitcoin will increase if the transaction increased. The price of the bitcoin is always depends on the market supply and demand. The price is now currently growing because the demand to bitcoin is now high. Actually, there is a current breakout that happen where the buyers pushes the price and it surpasses in the resistance level.

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Quote from: carter34 on January 15, 2020, 06:20:34 PM

Quote from: Eclipse26 on January 15, 2020, 08:45:15 AM

The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

I think you have a point and what I see on that is that it will cause panic and investors could think demand is getting high and may want to buy, therefore price can appreciate more.

There's no certain panic yet although we can see that maybe the FOMO affects that situation that's why we can see a rise from the numbers, but let's hope that we can see more movement since if the transactions will continue to rise up maybe we can see a good things coming up and this is just a little sign that we are in good phase.

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Quote from: Eclipse26 on January 15, 2020, 08:45:15 AM

The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

I think you have a point and what I see on that is that it will cause panic and investors could think demand is getting high and may want to buy, therefore price can appreciate more.

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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?

More like some kind of promotion from newbie.

However, with regard to transactions, I would not consider increasing their number as an obligatory factor indicating future growth.
In the past, this has already happened, and by no means always these seemingly positive events have been followed by growth.

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The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

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Quote from: stompix on January 13, 2020, 05:39:09 AM

You heard wrong or the guy telling you this was lying...

Yeah, even if it was true I don't think there's any sort of correlation between bitcoin transactions and price--or if there is, it's not necessarily a proportional one. Guess it doesn't matter since OP's premise is wrong anyway.

Quote from: stompix on January 13, 2020, 05:39:09 AM

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

Not sure why OP even mentioned that coin/token here. Makes me a wee bit suspicious as to his motivation for starting this thread. If it's an airdrop, it's almost guaranteed to be a piece of crap that's not worth holding even if you got it for free.

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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.

That is really interesting information, when I look at the chart of bitcoin we can clearly see to peaks in the number of transactions and those peaks coincide with the all time high that we got at the end of 2017 and with the higher price that we reached during 2019.

So there seems to be in fact some kind of correlation, even if it's week, between the number of transactions and the price and as you say it is clear the number of transactions has not doubled if that did in fact happen then the price of bitcoin should most likely be above its all time high.

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Quote from: keeee on January 14, 2020, 06:32:17 AM

Quote from: chaoscoinz on January 14, 2020, 05:41:26 AM

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?

More transactions don't necessarily equate higher market prices but it does make since, more transactions should usually mean that more users are using the Bitcoin network. The initial market price price has broken passed and crossed it's $7500 threshold it's been stuck on for the past few weeks, so that is always a positive sign of a healthy incline. This doesn't mean to start expecting some massive bull run to happen, but we'll see, who knows exactly for sure what will happen when it comes to cryptocurrency?

In fact bitcoin value now is slowly increasing again compare to what it is last month. When it comes to bitcoin transactions I didnt see it as imcreasing Because for me that was a normal thing since many of us here are using it. And I cant see anything about transaction to affect its value.

Now bitcoin have raise with higher price from last day until today bitcoin back with higher price and allow by several altcoin to be on higher price like BCH and BSC become most higher price change more than 80%, I hope when bitcoin back with higher price all altcoin could back with higher price and give chance with many holder get back their money and earn much profit with altcoin assets holding.

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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.

Where you heard that? It is wrong information. This are number of Bitcoin transactions in last year.

      Bitcoin
Jan 2020     9,387,399
Dec 2019      9,430,057
Nov 2019      9,243,776
Oct 2019      9,892,853
Sep 2019      9,798,992
Aug 2019      10,169,294
Jul 2019       10,305,251
Jun 2019    10,486,006
May 2019      11,505,497
Apr 2019      11,003,022
Mar 2019      9,457,625
Feb 2019      9,269,096

You can see that number of transactions is almost identical as a year ago. And is slightly in decrease from May.

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Quote from: chaoscoinz on January 14, 2020, 05:41:26 AM

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?

More transactions don't necessarily equate higher market prices but it does make since, more transactions should usually mean that more users are using the Bitcoin network. The initial market price price has broken passed and crossed it's $7500 threshold it's been stuck on for the past few weeks, so that is always a positive sign of a healthy incline. This doesn't mean to start expecting some massive bull run to happen, but we'll see, who knows exactly for sure what will happen when it comes to cryptocurrency?

In fact bitcoin value now is slowly increasing again compare to what it is last month. When it comes to bitcoin transactions I didnt see it as imcreasing Because for me that was a normal thing since many of us here are using it. And I cant see anything about transaction to affect its value.

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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?

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?

More transactions don't necessarily equate higher market prices but it does make since, more transactions should usually mean that more users are using the Bitcoin network. The initial market price price has broken passed and crossed it's $7500 threshold it's been stuck on for the past few weeks, so that is always a positive sign of a healthy incline. This doesn't mean to start expecting some massive bull run to happen, but we'll see, who knows exactly for sure what will happen when it comes to cryptocurrency?

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The increase in the number of transactions won't reflect directly in the increase in price of bitcoin. The increase in the transactions cause the market circulation to be high. This means it cause continued price fluctuation, and the inflow of investment by the time end up with the increase in the price of bitcoin. More the number of transactions more is the growth taking it to mainstream usage.

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Quote from: tenakha on January 13, 2020, 03:43:45 PM

Quote from: Wexlike on January 13, 2020, 09:11:27 AM

The Bitcoin transactions did not double. Stop posting blatant lies.

The transactions are capped by the block size, the only variable which might change is the fluctuating transaction fee cost.

I guess he compares 2015 vs after. Otherwise, the number of transactions has not increased recently. BPX should be what he wants to show us, which we have been recently facing in the altcoin discussion. He started such a made up title because a topic about BPX could not be started in this section. Check his recent posts, you will see what he is trying to do.

Number or amount how much transaction every day could be way how to make bitcoin back with higher price again, when bitcoin going down less transaction and bitcoin keep stable with lower price, but now bitcoin have many transaction every day and price of bitcoin keep on higher price again.

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Quote from: Wexlike on January 13, 2020, 09:11:27 AM

The Bitcoin transactions did not double. Stop posting blatant lies.

The transactions are capped by the block size, the only variable which might change is the fluctuating transaction fee cost.

I guess he compares 2015 vs after. Otherwise, the number of transactions has not increased recently. BPX should be what he wants to show us, which we have been recently facing in the altcoin discussion. He started such a made up title because a topic about BPX could not be started in this section. Check his recent posts, you will see what he is trying to do.

Wexlike

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The Bitcoin transactions did not double. Stop posting blatant lies.

The transactions are capped by the block size, the only variable which might change is the fluctuating transaction fee cost.

Here is a all time chart of the transactions:

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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?

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?

Better not expect from airdropped tokens. Were are on the year 2020 now, it is not like what it is when it was 2017, where airdropped and free tokens could be worth hundreds of bucks.

for the bitcoin transaction,well it is good for the community of crypto, see what a lively market is from the perspective of what you see on the real market on malls were there are hundreds of thousands of people busy trading and buying what ever it is they are selling. There are only differences though.

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Likely these are people that don't have a large stockpile hoarded yet and trying to get more in before the halving. Or who knows, maybe whales are slowly driving up the price now to magnify the effect of any increased demand close to halving.

Whichever the reason, just stick to a plan and you wouldn't be disappointed.

Sadlife

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There are two reasons behind the increase of price is probably the recent events in the US and Iran tension where US government killed Iran's top general Qassem Soleimani that resulted in a FUD in the stock market and people fled into findings safe havens assets, so they wont get hit by a supposedly massive dump. Secondly due to the incoming bitcoin halving.

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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?

Can you please share the source from where you have learnt this information? It is indeed a very valuable information if true! Because if the number of transactions are doubled, we can safely assume that the demand of bitcoin has increased and the price is going to increase in near future! But without a credible source, such kind of information makes no sense!

panganib999

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Any source of OP from transactions doubled? Might have been a local exchange but still should have been generally known with the statistics out there. But I still doubt number of transactions could be directly related to price increase, especially since a single trader could have hundreds of transactions by himself and no actual profit is actually circulating. Just that the coins are being transferred in and out of some wallets the owner himself owns.

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Honestly I don't see direct connection between increased number of Bitcoin transactions and price increase. Reasons for that could vary and it's not the same if these are selling or buying transactions.
It seems that everyone is so eager to see price growing that they are trying to find all possible reasons for that.

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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?

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?

Not sure where you are getting your information from.

According to the following chart, bitcoin transactions are at about 293,000 per day, which is where they've been for sometime. And transactions are DOWN compared to last March:

https://bitinfocharts.com/comparison/bitcoin-transactions.html

bitcoin31

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I don't know of the transaction of the bitcoin increasing is the affect of why bitcoin is increasing in the last few weeks upto this now. But mayne if the transaction of this coin increasing is I hope it will rise more if those people are buying bitcoin not selling their bitcoin.
But until now still unknown if we expect bitcoin grow the value because of growing the trasaction.

piebeyb

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if you may know where you got the information data from, it seems that what is increasing is the amount of hashrate not on transactions, about the rising price of bitcoin everyone is certainly waiting for it to come soon but it's better to walk slowly, the matter of your airdrop token does not really provide complete information about the project, but if it's obtained for free you can save it if you want, if the token is worthless and has no price, at least you don't feel disadvantaged too much and lose a lot of money

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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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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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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.

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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

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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? (Read 965 times)