According to the statistics of the analyst Yassine Elmandjra of Ark Invest, the value of Bitcoin transactions volume reached 1.3 trillion dollars in 2018.
Despite the persistence of the price stuck phase and the continuing disrepute campaign of traditional media in the financial lobbies services spanning virtual currency, as well as other factors (price volatility compared to traditional currencies, the problems in the high commissions emerged in 2017 and awaiting the implementation of the Lightning Network that would make it even more scalable), Bitcoin, however, wins second place after Visa in terms of transaction volume in USD, also surpassing PayPal.
The tweet published by Yassine shows how to observe the growth and continuous use of Cryptocurrencies.
It is a matter of looking at a graph that is not solely based on transaction volumes, but also counting the number of actual transactions considering its value in USD.
All this does not mean that it’s possible to evaluate, thanks to these charts on how the market responds to the unstable but resilient encrypted payment (Bitcoin) alternative compared to traditional centralized payment methods.
At this point, we can say that the maximum values reached by Bitcoin were recorded in 2017, with an increase of almost eight times the total value of the transactions compared to those of 2016.
In terms of commissions or transaction fees, when entering the Blockchain site, it is remarkable to note how these declines, if not collapsing, compared to the maximum parameters of 2017.
This indicates that the technological measures that have been implemented in Bitcoin are working and, despite the fall in the accounts and the interest from the price point of view, the activities on the GitHub portal of Bitcoin have not diminished at all.
In this 2018 we are witnessing a lateral/negative phase with a bitcoins price range between 6,000 USD and 8,000 USD and a continuous decrease in transaction costs, recording in any case a recorded value for the most expensive digital asset on the web.
Bitcoin after implementing Lightning Network can reach Visa
Following the market trend, it is assumed that, in the near future, with the implementation of the Lightning Network, Bitcoin can reach a certain VISA number, managing more than 13 trillion dollars in annual payments.
Current Bitcoin issues resizing have generated discussions about which method is most appropriate to compare results.
Many argue that they can’t be compared to each other.
Other experts, in other to evaluate market reality, starts creating new methods of comparison, and at this time are wondering whether it is more appropriate to generate higher or more valuable performance (transaction capacity). Following the second option, a concept related to quality and value arises, on which Web users consider more important to spend large sums of money, and it turns out that the imperfect but decentralized Bitcoin network is preferable to the safe and Consolidated PayPal Network.
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The views and opinions expressed are the views of Crypto Currency 10 and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All material(s) have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.
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