Bitcoin Trading Volume Plunges to Two-Year Low, Investopedia

Bitcoin (BTC) had a dramatic end to 2018 and commence to the fresh year. The top cryptocurrency ter the world by market cap surged to record high prices close to $20,000 vanaf coin ter December 2018. Then it stumbled somewhat, lodging down under $Ten,000. It has hovered ter the $8,000 to $11,000 range for several weeks.

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A report by Coin Telegraph suggests that this sideways price act which has predominated much of 2018 so far may be contributing to an unusual effect for the cryptocurrency: bitcoin has had the lowest number of confirmed transactions vanaf day since March 2018.

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Feb. 26 Marked a Two-Year Low

BTC transactions have fallen alongside downward trends te price since the coin reached its highest level ter December 2018. Since that time, spil the price of bitcoin has lodged down, investors seem to have lost some of the spark which drove last year’s bitcoin expansión.

The lowest levels of transactions occurred on February 26, 2018, with only 180,000 confirmed BTC transactions. March Four wasgoed only slightly better, with just 195,500 transactions taking place worldwide that day.

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Bitcoin Incapable to Regain Losses

So far, 2018 has not brought about a recovery strong enough to propel bitcoin to the sky-high prices it achieved late te 2018. This is te spite of fresh releases to support Segregated Witness (SegWit) technology ter February, all of which promise to make transactions ter the leading cryptocurrency both swifter and cheaper.

Nonetheless, investors show up to be more interested ter the overall trading potential of the coin than te its efficiency. At this point, SegWit accounts for toughly one out of every three bitcoin transactions. (See also: Bitcoin Price More Likely $100 Than $100K ter a Decade: Harvard Economist.)

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Critics of the cryptocurrency space suggest that last year’s ascendant prices may have bot driven by speculation. Indeed, it seems that many investors have adopted a “buy and hold” treatment to cryptocurrencies like bitcoin, te which they sit back and witness the market rather than actively transact. So long spil the speculation continued to drive up prices te the digital currency field, this strategy may have seemed a viable one. However, if there isn’t sufficient trading activity, it’s unlikely that prices will remain where they are forever.

Investing ter cryptocurrencies and Initial Coin Offerings (“ICOs”) is very risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest ter cryptocurrencies or ICOs. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties spil to the accuracy or timeliness of the information contained herein. Spil of the date this article wasgoed written, the author wields bitcoin and ripple.

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2 Comments

  1. sweet n low

    May 5, 2018 at 1:53 pm

    The key lump of the puzzle, however, is porting all the cryptographic functions to JS. Some were ported before spil bounties, some I found on the Internet, and wij’re presently working to port the most significant part – Ed25519 signatures – to JS, and it’s about halfway done!

  2. wishbystar

    May 5, 2018 at 8:39 pm

    It sure spil hell will take mij too long if I have to do everything by myself…

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