And who says bitcoin adoption isn't increasing?
Your barber and mailman may not be talking about bitcoin nearly as much now as they were a year ago, but that hasn't stopped the world's largest and most robust cryptocurrency from continuing to pick up steam.
According to data from blockchain.com, bitcoin is now seeing the highest number of confirmed transactions since January 17th of 2018, when bitcoin prices were around $11,000 per coin:
(Source: https://bitcoinist.com/bitcoin-transactions-daily-yearly-high/)
Today, prices currently are sitting around $3,600 per coin.
The median bitcoin transaction fees are also near 3 year lows.
More about that can be found here:
https://steemit.com/bitcoin/@jrcornel/bitcoin-transaction-fees-hit-3-year-lows
Both of these things are very positive for bitcoin going forward.
If you have only been watching the price of bitcoin over the past year, you have been missing what has been going on under the hood.
Stay informed my friends.
Follow me: @jrcornel
Now if we can just get the price to follow suit 💰👍💰
Current price sucks for those that bought high, or held high, but seems positive moving forward.
I agree. Some good development and adoption going on under the hood.
Hmm... I am not sure if I have enough courage to buy bitcoins for my first time...
But is the high amount of transactions really a good sign for the future or does people sell their last bitcoins to get a little money instead of nothing? Who knows?
It means it is being used. Whether that is for speculation, transfers, or payments is up for debate, but the fact that its usage is increasing is a good thing in my opinion.
I doubt that this number of transactions are payments.
It's more likely that this are transactions to exchanges. Not saying they will dumb immediately, but it is way faster to have your coins already on an exchange to sell them compared to the Blockchain jam if another hard drop happens.
Let's see what happens to the FEEs this time :)
They won't go anywhere close to where they went last time.
wow, just when I thought we might be gaining some footing ... kicked in the balls again
There has been a lot of ball kicking in the last 12 months... not much fun.
not dead yet! 😂 😂
Still kicking.
im still holding on to the bits of bitcoins I bought way back before it all took a dive early 2018, im positive bitcoin prices will be through the roof again, eventually.. ;P
Yep hopefully. Hopefully just a matter of when.
Yet they say that it is dead! I prefer to see stable adoption to ensure that the utility is available for all and not just to benefit only miners for their fees. I think the direction is positive for sure.
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Question is, where is the new equilibrium price, where sellers and buyers are in balance? Doesn't appear like we are there yet.