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

[Duzter]

The increase in the number of transactions won't reflect directly in the increase in price of bitcoin. The increase in the transactions cause the market circulation to be high. This means it cause continued price fluctuation, and the inflow of investment by the time end up with the increase in the price of bitcoin. More the number of transactions more is the growth taking it to mainstream usage.

[chaoscoinz]

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?

More transactions don't necessarily equate higher market prices but it does make since, more transactions should usually mean that more users are using the Bitcoin network. The initial market price price has broken passed and crossed it's $7500 threshold it's been stuck on for the past few weeks, so that is always a positive sign of a healthy incline. This doesn't mean to start expecting some massive bull run to happen, but we'll see, who knows exactly for sure what will happen when it comes to cryptocurrency?

[keeee]

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?

More transactions don't necessarily equate higher market prices but it does make since, more transactions should usually mean that more users are using the Bitcoin network. The initial market price price has broken passed and crossed it's $7500 threshold it's been stuck on for the past few weeks, so that is always a positive sign of a healthy incline. This doesn't mean to start expecting some massive bull run to happen, but we'll see, who knows exactly for sure what will happen when it comes to cryptocurrency?

In fact bitcoin value now is slowly increasing again compare to what it is last month.  When it comes to bitcoin transactions I didnt see it as imcreasing Because for me that was a normal thing since many of us here are using it. And I cant see anything about transaction to affect its value. 

[Febo]

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

Where you heard that? It is wrong information. This are number of Bitcoin transactions in last year.

      Bitcoin   
Jan 2020       9,387,399   
Dec 2019      9,430,057   
Nov 2019      9,243,776   
Oct 2019      9,892,853   
Sep 2019      9,798,992   
Aug 2019      10,169,294   
Jul 2019       10,305,251   
Jun 2019       10,486,006   
May 2019      11,505,497   
Apr 2019      11,003,022   
Mar 2019      9,457,625   
Feb 2019      9,269,096   

You can see that number of transactions is almost identical as a year ago. And is slightly in decrease from May.

[wxa7115]

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.

That is really interesting information, when I look at the chart of bitcoin we can clearly see to peaks in the number of transactions and those peaks coincide with the all time high that we got at the end of 2017 and with the higher price that we reached during 2019.

So there seems to be in fact some kind of correlation, even if it's week, between the number of transactions and the price and as you say it is clear the number of transactions has not doubled if that did in fact happen then the price of bitcoin should most likely be above its all time high.

[The Sceptical Chymist]

You heard wrong or the guy telling you this was lying...

Yeah, even if it was true I don't think there's any sort of correlation between bitcoin transactions and price--or if there is, it's not necessarily a proportional one.  Guess it doesn't matter since OP's premise is wrong anyway.

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

Not sure why OP even mentioned that coin/token here.  Makes me a wee bit suspicious as to his motivation for starting this thread.  If it's an airdrop, it's almost guaranteed to be a piece of crap that's not worth holding even if you got it for free.

[Eclipse26]

The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

[spike420211]

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?

More like some kind of promotion from newbie.

However, with regard to transactions, I would not consider increasing their number as an obligatory factor indicating future growth.
In the past, this has already happened, and by no means always these seemingly positive events have been followed by growth.

[carter34]

The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

I think you have a point and what I see on that is that it will cause panic and investors could think demand is getting high and may want to buy, therefore price can appreciate more.

[ultrloa]

The number of transactions is not the basis of an increase in the price of bitcoin. Yes it can cause a price increase but don't expect that much. Let's not forget that not all increasing transactions aren't from new people making transactions with Bitcoin. Multiple transactions can be done by a single person so don't expect much.

I think you have a point and what I see on that is that it will cause panic and investors could think demand is getting high and may want to buy, therefore price can appreciate more.

There's no certain panic yet although we can see that maybe the FOMO affects that situation that's why we can see a rise from the numbers, but let's hope that we can see more movement since if the transactions will continue to rise up maybe we can see a good things coming up and this is just a little sign that we are in good phase.

[DevilSlayer]

It is not like that, it does not mean that the bitcoin will increase if the transaction increased. The price of the bitcoin is always depends on the market supply and demand. The price is now currently growing because the demand to bitcoin is now high. Actually, there is a current breakout that happen where the buyers pushes the price and it surpasses in the resistance level.

[Eugenar]

This was in fact, a good analogy and comparison to state that if the number of transaction of a cryptocurrency is increasing, so as the market price of it, though, in a short run it is possible that most transaction is mostly focused on selling, the price will fall down. Going back, for a long time, transaction rate means traffic, and traffic means more people is using the system leading to huge demand of it. No matter how much transaction in a long run will tend to sell, price of bitcoin will go up because of demand.

[leyton11]

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

which means i can expect price increasing near future right?

This is uncertain, probably because bearists and bullishs are struggling to win.  You can see the win is in favor of the bullishs but it is unclear what the future will be.  we can predict with a lot of news like the Halving event or the chaos between countries.  In addition, we can consider important indicators such as MACD, RSI.  It will give us a more accurate signal.

[alexsandria]

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.

May be? I agree with this man, considering the idea that halving is just there close enough that is why people are buying now to have some stock plus the market is close to support level, or may be it is from the tension between two countries (which I supposed, not really the cause). Either way there are more factors to be considered, but these are just imo could be possible factors.

[kodtycoon]

The increase in the number of transactions won't reflect directly in the increase in price of bitcoin. The increase in the transactions cause the market circulation to be high. This means it cause continued price fluctuation, and the inflow of investment by the time end up with the increase in the price of bitcoin. More the number of transactions more is the growth taking it to mainstream usage.

therefore, an increase in the number of transactions will certainly have an impact on more significant growth, although initially fluctuations are very strong but still with an increase in the transaction is a proof of greater demand and will continue to increase prices continuously and gradually

[abeecrypto]

Actually, more transactions doesn't necessarily mean more inflow intp Bitcoin. Transactions could be buying, selling and even just mere transfer of funds.  However, the transactions might have been more of buying. And,  for whether,  we should be expecting a increase in price,  of course, it is always bound to happen. It's just a matter of time. whatever project has a good a product will surely move high up as the market goes up.

[meliodas]

In this case, yes. The number of transaction that has been increased in the blockchain of bitcoin means that there is a lot of people that are now into bitcoin. In simple economics, the more the demand, the higher the price that we are going to see. The number of transactions is the reflection of the demand of bitcoin in the market so it is equal to a price spike in bitcoin.

[Janation]

So i heard that the number of Bitcoin transaction increased double recently.
which means i can expect price increasing near future right?

That could mean two things.

Either Bitcoin is being sold or Bitcoin being bought. We don't know if it is the latter or not but let's hope that it is. It is true that the higher the demand, the price, and if a lot of Bitcoin is being sold, then let's expect a price pump. Another thing is that this is kind of expected for 2 years ago, I read a post about the blockchain. It can't hold the huge number of transactions so it should be developed. It is also said that the transaction will blow up in the future and I think that is what's happening by now.

[gweedo]

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?

A lot of similar topics have been around lately. The OP writes about an issue and then redirects to the BPX airdrop, which is clearly an intentional action from the people who created this airdrop or the people involved in it. I don't know about this airdrop, but with the way it appears here for days, I believe this is a bullshit airdrop and a useless project. And in addition bitcoin is in a bull phase and surely in 2020 we will see huge growth coming from this market.

[sisule]

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?

A lot of similar topics have been around lately. The OP writes about an issue and then redirects to the BPX airdrop, which is clearly an intentional action from the people who created this airdrop or the people involved in it. I don't know about this airdrop, but with the way it appears here for days, I believe this is a bullshit airdrop and a useless project. And in addition bitcoin is in a bull phase and surely in 2020 we will see huge growth coming from this market.

Different with topic he made where discussing about bitcoin transaction and talking about with airdrop project, maybe he made on other topic by discussing with airdrop or bounty campaign tread section, always have place each other where have to make post discussion about bitcoin prediction price and discussing with bounty and airdrop project.