Indicator Bitcoin payments hit lows. This was not in 2016

Bitcoin continues to appear in headlines. That only is the increase in the adoption of LN and a flash mob with Lightning-torch. And because there is a likelihood of imminent approval of the ETF on Bitcoin the securities and exchange Commission of the United States. But according to the latest reports Coinmetrics at first cryptocurrency have less monthly payments.

Now this figure has dropped even lower than the results of 2016. The best results recorded in December 2017, when the stock market experienced the strongest boom.

As seen in the chart below, on February 25, 2019 number of Bitcoin payments barely exceeded 383 thousand in the average Commission per transaction in 0,427 USD. This is a very significant decline from a peak of 25 December 2017. The day had been fixed operations 583,5 thousand BTC, and the average Commission amounted to $ 48,176.

Source: Coinmetrics.io

According OXT, the monthly number of transactions is constantly decreasing. In January 2019, the rate reached 5.3 million after 9.2 million in February 2018. However, to get the full picture, you need to take a wider range.

Source: Coinmetrics.io

On the chart above shows a significant decline from 19.1 million in payments from December 2017 to February 2019, when the number barely reached 8.3 million payments. According to Coinmetrics, analysis of the blockchain indicates that the payments in bitcoins are heavily dependent on speculation in the markets.

Source: Coinmetrics.io

In the early days of the network, some large venture capitalists actively promoted the use of Bitcoin as a payment method. However, the data show that the main purpose of the world’s largest cryptocurrency in fact is saving the values.

More data look at cryptodata. Also look into the rating of the coins, there is all the information with tables, graphs, and even courses in rubles. Convenient!

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