Number of transactions per day at a prolonged high

[matthewh3]

This is the seven day average of daily transactions per day graph - http://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false&timespan=all&show_header=true&daysAverageString=7&scale=0&address= - bitcoin is definitely being used more.  With Tx growth starting in April 2012.  Almost four months of growth in Tx's to date with it currently accelerating.

[Spekulatius]

I just recently discussed on that forum, that this development could be caused by higher bitcoin laundering activity also. Compared to 1 year ago the tx-chains on bitcoinmonitor.com clearly were less (and lighter also). I think bitcoin days destroyed charts ( https://blockchain.info/charts/bitcoin-days-destroyed-min-month?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= ) or the market cap one gives a better idea of bitcoins used and invested in.

[byronbb]

The price jump in June mirrors the increase in tx volume.

[niko]

The price jump in June mirrors the increase in tx volume.

It also mirrors the days in the northern hemisphere starting to get shorter after summer solstice. Sure, the upward trend started few weeks earlier, but this was clearly in anticipation of the forthcoming solstice.

[byronbb]

The price jump in June mirrors the increase in tx volume.

It also mirrors the days in the northern hemisphere starting to get shorter after summer solstice. Sure, the upward trend started few weeks earlier, but this was clearly in anticipation of the forthcoming solstice.

So there is no correlation between higher network volume transfers and the price of coins?

[matthewh3]

The price jump in June mirrors the increase in tx volume.

It also mirrors the days in the northern hemisphere starting to get shorter after summer solstice. Sure, the upward trend started few weeks earlier, but this was clearly in anticipation of the forthcoming solstice.

So there is no correlation between higher network volume transfers and the price of coins?

It could likely show increased bitcoin adoption by the increase usage.

[niko]

The price jump in June mirrors the increase in tx volume.

It also mirrors the days in the northern hemisphere starting to get shorter after summer solstice. Sure, the upward trend started few weeks earlier, but this was clearly in anticipation of the forthcoming solstice.

So there is no correlation between higher network volume transfers and the price of coins?

Obviously not. Look at the Nov '11 - Jan '12 rally, and almost halving of price from Jan '12 through mid February.