Bitcoin Continues To Gain Popularity As Number Of New BTC Walllets Explode Per Blockchain.com Data
Bitcoin Continues To Gain Popularity
Bitcoin is already changing the way business is done across the world. Although its development was met with a lot of speculation, the technology has been in a position to rise behind these fears.
Going with the current data, the year 2019 will be a consequential year for the digital currency. The currency has seen an increase in the number of its users. Last year, credible information shows that the usage of the currency rose by close to 50%. It was such an achievement.
Stability In The Year 2018
In the past, the prices of the Bitcoin have been increasing at a very high rate. However, there was a significant shift in the year 2018. The prices never increased sharply. However, the major fundamentals of the currency got enhanced. Analysts continue to predict that the currency has a positive outlook in the future.
This goes against what the currency experienced last year. In that period, it posted a change of -0.33% in its average daily value which was not encouraging at all. The difference was worse compared to the year 2014 when the coin was struggling in the market. In the years 2013 and 2011, the currency had a positive change in its daily average value.
The future remains bright for the currency. Although it opened the year with a drop in the price, this decline is insignificant. Perhaps it shows that the currency is now mature and market fundamentals are now driving the prices.
This trend is also expected to continue next year where the currency will experience what is called halving. However, there is no cause of alarm since this is a typical market scenario.
Catching The Eyes Of The Regulators
Many nations are still to give the nod to the trading of this currency in digital platforms. Most of them fear the volatility of the cryptocurrency. However, the US is expected to embrace the currency.
The stock market regulator is expected to approve its first Exchange Traded Fund as early as February this year. More regulators will soon follow. Currently, 1 Bitcoin is valued at more than $3000. The total value of all the bitcoins in the market exceeds $60 billion.