The number of transactions of bit coins, the rapid curling up to the “17 year-end level” of the virtual currency bubble
It was found that the number of bit coin transactions (the number of transactions of bit coins per block) has recovered to the record level of December 2017, which is the highest ever.
The view that it will follow the price to the number of transactions which already recorded a rise of 35% from January 2019 has come from overseas famous traders and others.
Until now, the number of bit coin transactions and bit coin price recorded a positive correlation. Peak of 2 degrees, the “bubble market” in the May-June 2017, to be located in the “bit coin past the highest value” of 12 May 2017, has proved it.
Bit coin prices have steadily declined since the highest value at the end of 2017 but the number of transactions has been up against the price in August 2018 and its momentum has accelerated to the highest level since 2019 I am returning.
This can be seen as effective data showing that in addition to the demand accompanying soaring market price, cases actually used on actual demand are increasing. As one of them, there is a possibility that spread of bit coin lightening network which became active after 2018 may be involved.
Diffusion of lightning network is an important movement holding the possibility of dropping bit coin payment to our daily level from the advantage of fee aspect and settlement speed. Also in the near future, an exercise “bit coin · lightning · torch” aimed at improving the familiarity of the lightning network is held, and Twitter CEO Jack Dorsey is also participating.
There is a possibility that the correlation with price may be different depending on whether the increase in the number of transactions is due to general demand or due to settlement demand, but in the bit coin having aspects as settlement currency, increase in the number of transactions is important It can be a fundamental factor.
Scalability and settlement actual demand, it seems to be an important move in viewing price in the future.
Although the lightning network is also talked about at the Olympic torch relay, it is expected to improve the transaction speed of bit coins, solve the problem of soaring commission, and enable micro payment!
Diffusion has gradually moved forward.
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