Bitcoin transactions rising in 2019! This is good news – bitcoin transactions continuing to rise means more and more instances of Bitcoin being used shows use case! This is the case despite being down nearly 30% from its 2019 high.
If tracking is correct – Bitcoin transactions will continue to rise and is on track to be at its highest this year. Shakepay notes that the total daily transactions are now over 350k.
Bitcoin is on pace to do more transactions in 2019 than any other year in history.
When in doubt, zoom out. pic.twitter.com/27eJrfPVt3
— Shakepay – Buy/Sell Bitcoin 🇨🇦 (@shakepay) July 31, 2019
According to Bitinfocharts, Bitcoin transactions peaked in mid-december 2017 when they hit 490k. The price at the time was nearly 20k USD. Bitcoin transaction fees are generating almost 800k in daily fees over the past month. These metrics point to and indicate that Bitcoin is bullish.
Just in case you need convincing – another metric is through hashrate – a couple days ago, charts revealed that Bitcoin’s hashrate was a fraction below 79 EH/s on July 29th – this is the highest its ever been. High hashrate is good for miners as it increases their chances of receiving a reward.
With hashrate via network horsepower and transactions consistently rising, the system is becoming more secure with more use and more adoption. We should see a new ATH soon.
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