More

    Weiss Ratings Gives Five Reasons Why Bitcoin's Fundamentals Are Stronger than Ever for Adoption

    Although we are in a bear market, Bitcoin’s fundamentals continue to improve. In a recent post released by Weiss Cryptocurrency Ratings, the rating agency shows that Bitcoin (BTC) has been improving its fundamentals during the whole year.

    Bitcoin is becoming more secure as the month's pass. At the beginning of 2018, Bitcoin’s hash rate was close to 17 million TH/s. It reached 60 million TH/s in August and ended the year close to 38 million TH/s.

    This is very important because the network is much more secure than before. More miners are providing more energy to verify transactions and protect the whole network against 51% attacks such as the one that Ethereum Classic (ETC) experienced.

    The number of active addresses has remained stable even when the market dropped substantially in the last months. According to data provided by BitInfoCharts, the number of addresses remained stable around 500,000 since April 2018. The number of addresses created on Blockchain.com continues to grow as well.

    Transaction volume has also been growing since April. When Bitcoin was reaching $20,000 in December 2017, the number of transactions was 495,000 per day. After the market dropped down to $6,500 the transactions processed per day declined to 135,000 in April. Since that moment, the number of transactions increased up to 276,000 per day.

    The average transaction fee has also fallen down to 25 cents from a peak of $55 dollars when Bitcoin was traded close to its all-time high in December 2017. This is in part due to the fact that participants in the network have implemented Segregated Witness (SegWit), allowing transactions to be smaller.

    The Lightning Network (LN), which aims at making Bitcoin a faster and less congested network has also grown during the last year. The number of nodes has skyrocketed up to 5,674 and the channels are 22,049. Furthermore, the network capacity is 571.44 BTC, close to $2.04 million.

    The Lightning Network would allow Bitcoin to process hundreds of thousands of transactions in just a few seconds without congesting the Bitcoin blockchain.

    Weiss Ratings seems to be bullish about Bitcoin and its future. Back in December 2018, the company wrote a tweet in which they say that Bitcoin one of the best buying opportunities of the year.

    “As a store of value Bitcoin is here to stay,”

    they wrote.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,267FansLike
    2,734FollowersFollow
    4,094FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    IBM Wins ‘Self-Aware' Token Patent, It Can Record Offline Transaction Data To Upload Later

    IBM was given a US patent for a “self-aware” token that’s capable of recording its own data for transactions. The patent was awarded on January...

    World’s Largest Oil Firm Saudi Aramco, Drops $5M Into Vakt's Blockchain Trading Platform

    A leading oil corporation from Saudi recently invested $5 million towards a blockchain based startup dubbed ‘Vakt’. Saudi Aramco Energy Ventures (SAEV), initiated the...

    China’s Crypto Affinity Drops As LocalBitcoin Volume Drops To 2-Year Lows

    China’s BTC trading volumes have hit an all-time low in two years with the peer to peer (p2p) exchanges on LocalBitcoin. As of the...

    Bitfinex Ordered To Freeze $860k Bitcoin Linked To BitPaymer Ransomware By UK Courts

    A High Court in the United Kingdom has issued a freeze order on Bitcoin acquired via a ransomware attack against a Canadian-based firm. The...

    TradeStation Users Now Have Access To CME, Bakkt Bitcoin Futures Options Trading

    TradeStation is an online brokerage firm for securities and on 27th January announced that its clients can now trade Bitcoin Futures Options from CME...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.