Is Bitcoin on the way out?

[VCX_Coin]

According to research firm Blockchain.info, transactions plunged from seven-day average of almost 400,000 in mid-December to about 200,000 this week.
Earlier this year, when bitcoin price fell by more than 60 percent from its recent peak, a lesser noticed bitcoin also plummeted:  the number of daily transactions.

Even when Bitcoin price had a 50 percent return since Feb.5, the number of daily transactions has not recovered. This left investors wondering if the cryptocurrencies is declining in popularity.
Since it peaked in December, the average number of daily exchanges has decreased by half and touched its low in two year last month, even when bitcoin recovered to
$10,000.
Transactions data may be bad news for Bitcoin Bulls, according to Charles Morris - chief investment officer at Newscape Capital Group, London and also a cryptocurrencies investor.
“We had a hype cycle and now it’s getting cold”, Morris said. “It is possible that we are entering a bear market”.
However, with the above information, we can still expect a growth in others altcoin.

VCXCoinTeam

[randyshan]

Yes, BTC is on the way out but it is a long way.

[BCEmporium]

It's called SegWit... Transactions are faster and cheaper now, so the backlog is smaller.

[187undercover]

Bitcoin hype maybe getting cold, But mostly i think its because the devs are working way too slow.
The founders are not getting their mind set on the things they should improve on.

[BCEmporium]

Bitcoin hype maybe getting cold, But mostly i think its because the devs are working way too slow.
The founders are not getting their mind set on the things they should improve on.

There are no "founders" for Bitcoin. And people who write code for Bitcoin are doing just fine. Testing for LN is going full force, and RootStock is making progress as well.

[Faeton]

The number of transactions has now fallen by half, because for more than two months the crypto-currency market is in stagnation and expectation. Someone in a panic has long sold their bitcoins, someone bought them at a cheap price and now all in anticipation of the revival of the crypto-currency market. This is not a drop in the popularity of the Crypto currency, it is likely similar to the seasonal decline in trading volume.

[linkybit]

Yes now there is less backlog due to coin SegWit improvement, and we might see another peaked December this year, I am holding bitcoin for this year.

[paulsen]

many are panicking because bitcoin is down. they are in too hasty to sell their coins on a large scale. that is why the current market price is falling. more than sellers than buyers.

[louie69]

I would agree that most of the people investing BTC are now wondering why it had not risen it's price value and the resistance has greatly affected it's current value going to downward trend. I just think that what is happening in the crypto market which affects the price of BTC could have been investors holding still and lesser investment coming in. With this, I am still optimistic that the downward trend for BTC is just temporary where it will be back on track soon.

[zhangcaisbsbn55]

According to research firm Blockchain.info, transactions plunged from seven-day average of almost 400,000 in mid-December to about 200,000 this week.
Earlier this year, when bitcoin price fell by more than 60 percent from its recent peak, a lesser noticed bitcoin also plummeted:  the number of daily transactions.

Even when Bitcoin price had a 50 percent return since Feb.5, the number of daily transactions has not recovered. This left investors wondering if the cryptocurrencies is declining in popularity.
Since it peaked in December, the average number of daily exchanges has decreased by half and touched its low in two year last month, even when bitcoin recovered to
$10,000.
Transactions data may be bad news for Bitcoin Bulls, according to Charles Morris - chief investment officer at Newscape Capital Group, London and also a cryptocurrencies investor.
“We had a hype cycle and now it’s getting cold”, Morris said. “It is possible that we are entering a bear market”.
However, with the above information, we can still expect a growth in others altcoin.

VCXCoinTeam

I don't agree. It will be herelong enough for the market to be mature enough.

[Omtamvan]

Bitcoin hype maybe getting cold, But mostly i think its because the devs are working way too slow.
The founders are not getting their mind set on the things they should improve on.

There are no "founders" for Bitcoin. And people who write code for Bitcoin are doing just fine. Testing for LN is going full force, and RootStock is making progress as well.

According to what I know If you think like that make progress number of transactions in the crypto market has decreased, and they sell their bitcoin cheaply for profit and other things happen crypto money has little value from the start of trading

[godzillarekt007]

I would agree that most of the people investing BTC are now wondering why it had not risen it's price value and the resistance has greatly affected it's current value going to downward trend. I just think that what is happening in the crypto market which affects the price of BTC could have been investors holding still and lesser investment coming in. With this, I am still optimistic that the downward trend for BTC is just temporary where it will be back on track soon.

Those people are the newbies, and who cares what they think they are only in it for a quick dollar. I could care less what they think, and I hope all people entering for a quick dollar get royally destroyed. Because it is that exact mindset that spirals the downtrend out of control, if we had rational smart investors Bitcoin would not be as volatile. If I have to endure the volatility fine, then some people better be getting wrecked at the same time because they are the ones screwing up the market for every smart investor. I seem upset but I am not I understand this is where smart people make their money so I guess in essence I do want it long term, but it is still annoying as hell.

[lakimens]

It might be on the way out, but then again, it might've been on the way out for a long time.

[Geoll29]

I don't think bitcoin will completely on its way out. It is normal that sometimes the value fails but it will be back on its feet again. We should be always positive when it comes to investment otherwise there will be no money making investment that we can lean on.

[Dipsomaniac]

Personally, I think it was a great project but I really do think it's time will be coming to an end in the future. This year? Probably not. Next year, maybe. In 5 years I would say definitely.

[sourish]

There has been constant conjecture about bitcoin, but despite everything people still believe in it, and as long as it has that, no i dont think bitcoin is on the way out.

[ambisyon]

No, I don't think that bitcoin is already on it's way out because not only myself but many people still trust on the potentials of this currency. Perhaps, what was happening on the dip that we are seeing a couple of days from now would be just temporary and this could have been due to less investment coming in where mostly are holding their btc's and much lesser transactions in the current market. But I am still hoping for the immediate recovery of BTC soon in the coming weeks.

[ePesoInitiative]

Plan B - If Bitcoin fails, sure something else will replace it not but after all the rest will suffer a crash since Bitcoin is acting like a crypto index for quite some time. I wish it werent true but it is. Plan B might be fiat.

[FoBoT]

No matter how it takes, it is never going to be as quickened as that because uncounted numbers of Bitcoin had not been mined , So for sure, it's going to be Donkey years. It's volatility bring a lot of chaos truly, but it is these days trying to be stable. let us still be very matured and optimistic.

[emmmmm]

Yes, I also think that is now in the bear market, because almost all the tokens in the red stage, but I think this day will not last too long, may arrive in the summer, so the bitcoin will have a sharp rise again,