It’s been a roller coaster ride for Bitcoin not only since it’s debut years ago, but since a year ago as well. Back in January 2018, the price of Bitcoin surged to the $20,000 level based on media attention bringing the public into a buying frenzy as the price kept climbing. However, the price tumbled since then to under $3,500. Even so, trading seems to have picked up again based on a recent report.
According to Cointelegraph’s report, data from Transactionfee.info shows that the BTC transaction volume recently increased back to the levels seen in January of 2018. That could be a positive sign in terms of the phases of eventually getting the masses to adopt Bitcoin as an everyday payment source or digital currency.
In January 2018, Bitcoin transactions per day were between 300k and 400k. They dropped after that and stayed somewhat steady throughout the remainder of the year. However, transactions started to climb towards the end of 2018. As of January of this year, they’ve moved back above that 300k level.
A recent Medium post from Bitcoin personal key security system firm Casa’s CTO James Lopp cites “improvements in block propagation at Bitcoin core” as well as “a new highly performant miner relay network.” Lopp notes that the “system is improving and growing” as the nodes are upgrading regularly.
In 2018, BTC’s market dominance had fallen to 32.5 percent overall for the cryptocurrency market. However, it returned to over 50 percent market dominance. It’s managed to weather several issues along the way including a battle involving Bitcoin Cash trying to gain steam in the marketplace as a leading digital currency.
Lopp isn’t the only one who believes that Bitcoin has been improving lately either. Crypto evangelist Anthony Pompliano wrote a blog post in November 2018 suggesting that cost per transaction and the number of transactions were among increasing fundamentals for BTC.
As of this report, the price of Bitcoin (BTC) is at just under $3,360 according to the Coinbase trading exchange.
