Bitcoin transactions hit highest level in 13 months
There is no denying that the future of Bitcoin was looking dismal through the winter months. There was not a lot of exciting action occurring around Bitcoin to work up enough of a storm to grab the attention of those outside the crypto community, and there was much uncertainty for those in it.
In 2019, Bitcoin is beginning to show some price stability and it appears to be establishing itself as a reliable, solid, and predictable digital currency. The world may be trying its very best to kill off Bitcoin and all cryptocurrencies along with it, however, Bitcoin is proving that it is resilient and it may be more difficult to write it off than some would like to think.
The health of crypto markets is gauged by 3 main aspects: price momentum, market sentiment, and the continued advancement of the sector. The SFOX Crypto Volatility Report: February 2019 showed the generally optimistic outlook for all cryptocurrency.
In this report, it was stated that transactions made with Bitcoin are at an all-time high in over a year. Inherent value and liquidity all rise from the actual usage of cryptocurrency and it is an enormous step in the right direction to bring Bitcoin back into the limelight.
SFOX also believes that Bitcoin ETF is deemed as a possibility by the market when the price of BTC increased by 7% surrounding this news. Bitcoin ETFs could bring institutional money into the cryptocurrency market and improve liquidity.
This is incredibly positive news to come out recently and should start to raise the hopes of the crypto community and hopefully sway others to join it. It is important that investors do not ignore what is happening around them on the naive thought that they don't care or that they do not need to care. Bitcoin is making a comeback and it is one of the biggest threats to the world's banking systems.
The future of Bitcoin is not fixed but it does appear to be on another rise.