Bitcoin has taken a decisive step towards adoption

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Bitcoin has once again entered the star of investment and trade after the price of bitcoin suddenly jumped last week, adding nearly 30% and returning above the $ 5,000 mark, but leaving investors uncertain whether Bitcoin (and other major cryptocurrency) will be able to maintain the price.

The price of bitcoin, which has been around $ 3,500 per bitcoin for months, took the market by surprise last week when the price climbed higher, leaving many badysts and traders uncertain about what triggered this rise, with few changes to the Bitcoin fundamentals.

Bitcoin has taken an important step in adoption and use with its 400 millionth transaction, as recorded by Bitcoin's public blockchain.

Bitcoin currently makes an average of 350,000 transactions per day, or about 15,000 transactions per hour, or about four per second.

Although the record for the most daily transactions in bitcoin was broken in the middle of the epic epic of late 2017 (490,000), the number of daily transactions has been steadily increasing since the middle of 2018 after going under the 200,000 a day early in the year. year.

At the same time, the average number of bitcoin transactions per block has reached an unprecedented peak of more than 2,700 transactions at the end of last month, which means that more transactions are processed each time a new block is exploited.

However, the cost of each bitcoin transaction has also increased, with the cost of the transaction doubling in the first week of April to just over $ 2 per transaction. This bitcoin average transaction fee, which goes to the miner who "finds" the blockchain block to which the transaction is being added, has now fallen back below the $ 2 mark.

While Bitcoin, along with other major cryptocurrency currencies, continues to hit the road to adoption and utilization, investors and traders will likely become more confident about Bitcoin longevity and its ability to conserve. valuations and higher prices.

However, the technical trading data suggest Bitcoin could head to a sudden drop in prices despite the adoption and use of milestones.

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Bitcoin once again entered the investment and trading sector after the sudden rise in the price of bitcoin last week, adding nearly 30% and returning above the psychologically significant $ 5,000 mark – everything leaving investors uncertain about keeping the price.

The price of bitcoin, which has been around $ 3,500 per bitcoin for months, surprised the market last week when the price soared, leaving many badysts and traders uncertain of what triggered the rise, without the Bitcoin fundamentals have changed.

Bitcoin has taken an important step in adoption and use with its 400 millionth transaction, as recorded by Bitcoin's public blockchain.

Bitcoin currently makes an average of 350,000 transactions per day, or about 15,000 transactions per hour, or about four per second.

Although the record for the most daily transactions in bitcoin was broken in the middle of the epic epic of late 2017 (490,000), the number of daily transactions has been steadily increasing since the middle of 2018 after going under the 200,000 a day early in the year. year.

At the same time, the average number of bitcoin transactions per block has reached an unprecedented peak of more than 2,700 transactions at the end of last month, which means that more transactions are processed each time a new block is exploited.

However, the cost of each bitcoin transaction has also increased, with the cost of the transaction doubling in the first week of April to just over $ 2 per transaction. The average transaction fee in bitcoins, which goes to the miner who "finds" the block of block strings to which the transaction is added, has now fallen back below the $ 2 mark.

While Bitcoin, along with other major cryptocurrency currencies, continues to hit the road to adoption and utilization, investors and traders will likely become more confident about Bitcoin longevity and its ability to conserve. valuations and higher prices.

However, trade technical data suggests that bitcoin could move towards a sudden drop in prices despite adoption and usage milestones.