A Lower Bitcoin Transaction Volume is a Sign of Maturity
April 4, 2018 5:01 am,
With Bitcoin as a currency means competing transactions. When the Bitcoin transaction numbers are on the debility, people get apprehensive. It seems to designate there is less request for BTC, in addition to little interest in successfully using it. At the same time, the Bitcoin transaction volume is precious by a lot of different factors.
As become apparent recently, transaction batching is quite popular nowadays. This means people will see “fewer” transactions, but it’s a confident growth overall. Batching leads to lower fees and faster validation, which is all anyone can ask for. Even, we are presently at the Bitcoin transaction level of October 2015. It is obviously not the sign people are looking for.
Looking at the better picture, the Bitcoin transaction volume was growing quite quickly. This trend has become seeming for several years now. Even so, there have been a few dips along the way. This is by far the steeper dip, but it is not just because there is less economic action per se. Viewing forward, things may very well pick up once again.
The Future Still Looks Bright
Many developments will come to Bitcoin users. SegWit adoption is growing, which will benefit Bitcoin scale a bit. Moreover, the Lightning Network is inching closer to being released every day. Those two growths alone will have a positive influence on the Bitcoin network from a technical level.
At the same time, dealers and venders show a transformed interest in Bitcoin. This is despite the price instability so many people are concerned about currently. Once people spend Bitcoin again, the inclusive transaction volume will rise. Users will also profit from the lower fees and even micropayment solutions as well.
Particularly retailers in South Korea are strong on Bitcoin. Mutual with the ongoing efforts in Japan, the Bitcoin transaction volume will pick up sooner rather than later. It may take some time till things progress, though. Keeping the long-term picture in mind at all times has never been more significant. Bitcoin is still in the initial stages. Regularly, things will recover, and all of this becomes a footnote in the history of cryptocurrency.