Ok. Number of Bitcoin transaction increased double. Expect price increasing?

[psjin128]

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?


Btw, i recently got airdrop token, which is exchange token, BPX?

Do you guys think that this kind of token may have a good value or nothing?

[NathanJB]

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?

The rising of Bitcoin transaction is expected in the long run. Despite short-term fluctuations, it is rising in the bigger picture.

The price is a different story. The number of transactions is not directly correlated to the price such that an increase in transactions is not necessarily equal to an increase of price.

Btw, i recently got airdrop token, which is exchange token, BPX?

Do you guys think that this kind of token may have a good value or nothing?

I don't know about that token. Do a research about it and find out.

[joniboini]

As mentioned, transaction increasing does not necessarily mean a price increase. There could be an increase of wallet address that is owned by a single person, somebody needs to distribute his funds to more people but does not necessarily sell them, an exchange needs to move their funds from a hot wallet in shorter time frame, etc.

A better metric to predict a price increase would be trading volume, with some indicators and tools. Other than that, analyzing the 'fundamental' status is also a good idea. Such as how many merchants and users are using Bitcoin, what's the improvement of the network on the future, is there any competitor, etc.

[Wexnident]

Possibly, if the transactions recorded are transactions by unique users. If they were just made to transfer funds from wallet to wallet, There isn't really many expectations for it to increase, though in general, transactions would only increase in the future. Though I don't think it would affect the price by a large margin.

As for BPX, google it tbh. Just looked it up, Idk if it was the right token but the token was priced quite low, at $, so really, its value is close to nothing unless you have a large amount of them.

[blckhawk]

You are hitting two topics on a single post. I don't know much on that token, but just always monitor the given exchange.

Regarding the doubling of transactions, it is possible that demand is increasing. But the usage of a currency does not really collerate to a higher price. What pumps up the price is the demand or buy orders on an exchange, which is basically hoarding. Though that's not the main purpose of Bitcoin, so higher price might not be the best case scenario, but rather adoption.

[AniviaBtc]

As mentioned, transaction increasing does not necessarily mean a price increase. There could be an increase of wallet address that is owned by a single person, somebody needs to distribute his funds to more people but does not necessarily sell them, an exchange needs to move their funds from a hot wallet in shorter time frame, etc.

A better metric to predict a price increase would be trading volume, with some indicators and tools. Other than that, analyzing the 'fundamental' status is also a good idea. Such as how many merchants and users are using Bitcoin, what's the improvement of the network on the future, is there any competitor, etc.

What a good strategy! But on the other hand, it is still risky because we're not certain when it will increase its price again. We all know that bitcoin is very unpredictable because of its volatility and how come that many people still trust bitcoin on its ability as a famous coin. From the start, bitcoin is really can go higher and higher when it is on its peak and that's the reason why hodling is very useful for us bitcoin fans. Patience is needed because nowadays there's no such thing as an instant money.

[1Referee]

https://bitinfocharts.com/comparison/bitcoin-transactions.html#6m

Transaction volume on-chain is actually going down slowly. Not sure what gave you the impression that it doubled, but that's simply not true.

https://bitinfocharts.com/comparison/ethereum-transactions.html#6m

Ethereum transactions saw a decline in the same period as well, which is indicative of how poor the sentiment is. People are more active when prices are going up then slowly exit when the price doesn't want to go up anymore.

[stompix]

So i heard that the number of Bitcoin transaction increased double recently.

You heard wrong or the guy telling you this was lying...
Not only have we not doubled the number of transactions but it currently almost impossible for that number to double.
We're sitting at 300k tx per day and the peak reached during 2017 was barely above 400k.

which means i can expect price increasing near future right?

With the above being false, you can expect ...anything

Btw, i recently got airdrop token, which is exchange token, BPX?
Do you guys think that this kind of token may have a good value or nothing?

Let's keep shitcoins in the shitcoin sections, right?

A better metric to predict a price increase would be trading volume, with some indicators and tools.

Trading volume?
With the amount of fake volume, we're having? That would be a worse indicator than the number of reindeer migrating daily between Sweden and Norway.

@1Referee
Who cares about facts, a guy told the OP it doubled, it must be true ! 

[tambok]

As mentioned, transaction increasing does not necessarily mean a price increase. There could be an increase of wallet address that is owned by a single person, somebody needs to distribute his funds to more people but does not necessarily sell them, an exchange needs to move their funds from a hot wallet in shorter time frame, etc.

A better metric to predict a price increase would be trading volume, with some indicators and tools. Other than that, analyzing the 'fundamental' status is also a good idea. Such as how many merchants and users are using Bitcoin, what's the improvement of the network on the future, is there any competitor, etc.

I don't know why people are always speculating and assuming that the price will increase during halving, although this is a major event in crypto world, still doesn't guarantee that the price will increase, still up to the people or to the demand if they will keep buying or not, what's good for now is that we do have positive start of the year.

[piebeyb]

if you may know where you got the information data from, it seems that what is increasing is the amount of hashrate not on transactions, about the rising price of bitcoin everyone is certainly waiting for it to come soon but it's better to walk slowly, the matter of your airdrop token does not really provide complete information about the project, but if it's obtained for free you can save it if you want, if the token is worthless and has no price, at least you don't feel disadvantaged too much and lose a lot of money

[bitcoin31]

I don't know of the transaction of the bitcoin increasing is the affect of why bitcoin is increasing in the last few weeks upto this now. But mayne if the transaction of this coin increasing is I hope it will rise more if those people are buying bitcoin not selling their bitcoin.
But until now still unknown if we expect bitcoin grow the value because of growing the trasaction.

[alyssa85]

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?


Btw, i recently got airdrop token, which is exchange token, BPX?

Do you guys think that this kind of token may have a good value or nothing?

Not sure where you are getting your information from.

According to the following chart, bitcoin transactions are at about 293,000 per day, which is where they've been for sometime. And transactions are DOWN compared to last March:

https://bitinfocharts.com/comparison/bitcoin-transactions.html

[bitbunnny]

Honestly I don't see direct connection between increased number of Bitcoin transactions and price increase. Reasons for that could vary and it's not the same if these are selling or buying transactions.
It seems that everyone is so eager to see price growing that they are trying to find all possible reasons for that.

[panganib999]

Any source of OP from transactions doubled? Might have been a local exchange but still should have been generally known with the statistics out there. But I still doubt number of transactions could be directly related to price increase, especially since a single trader could have hundreds of transactions by himself and no actual profit is actually circulating. Just that the coins are being transferred in and out of some wallets the owner himself owns.

[avikz]

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?

Can you please share the source from where you have learnt this information? It is indeed a very valuable information if true! Because if the number of transactions are doubled, we can safely assume that the demand of bitcoin has increased and the price is going to increase in near future! But without a credible source, such kind of information makes no sense!

[Sadlife]

There are two reasons behind the increase of price is probably the recent events in the US and Iran tension where US government killed Iran's top general Qassem Soleimani that resulted in a FUD in the stock market and people fled into findings safe havens assets, so they wont get hit by a supposedly massive dump. Secondly due to the incoming bitcoin halving.

[merchantofzeny]

Likely these are people that don't have a large stockpile hoarded yet and trying to get more in before the halving. Or who knows, maybe whales are slowly driving up the price now to magnify the effect of any increased demand close to halving.

Whichever the reason, just stick to a plan and you wouldn't be disappointed.

[kaya11]

So i heard that the number of Bitcoin transaction increased double recently.

which means i can expect price increasing near future right?


Btw, i recently got airdrop token, which is exchange token, BPX?

Do you guys think that this kind of token may have a good value or nothing?

Better not expect from airdropped tokens. Were are on the year 2020 now, it is not like what it is when it was 2017, where airdropped and free tokens could be worth hundreds of bucks.

for the bitcoin transaction,well it is good for the community of crypto, see what a lively market is from the perspective of what you see on the real market on malls were there are hundreds of thousands of people busy trading and buying what ever it is they are selling. There are only differences though.

[Wexlike]

The Bitcoin transactions did not double. Stop posting blatant lies.

The transactions are capped by the block size, the only variable which might change is the fluctuating transaction fee cost.

Here is a all time chart of the transactions:

[tenakha]

The Bitcoin transactions did not double. Stop posting blatant lies.

The transactions are capped by the block size, the only variable which might change is the fluctuating transaction fee cost.

I guess he compares 2015 vs after. Otherwise, the number of transactions has not increased recently. BPX should be what he wants to show us, which we have been recently facing in the altcoin discussion. He started such a made up title because a topic about BPX could not be started in this section. Check his recent posts, you will see what he is trying to do.