Wow, so transactions doubled in roughly two years? That's pretty incredible, though I wonder what it really means. I'm not sure it's a sign that bitcoin is becoming more widely adopted as a currency, and I doubt there's a reliable way to tell just from these numbers. I know there was a hell of a lot of trading in 2017 alone, followed by massive selloffs in 2018, so that could account for a lot of the transactions. Still interesting data, however.
Imagine, the trend that bitcoin had in 2017 is somehow focused mainly on uptrend growth from the transactions made by people. But comparing that to 2018, mostly in last year and this start of the year, we have encountered enormous volatility and phase changing from uptrend to downtrend, and it keeps repeating again and again. That would probably be the indicator that the market is active despite of the All time high that was experienced way back 2017.
That's what I'm questioning--I don't really think it's the case that people are spending bitcoin more, though there could have been an increase in that. But I doubt the number of people using bitcoin for purchases in daily life has doubled since 2017.
Numbers does really proves something somehow. But there isn't clear representation of that based from the number of transaction other than implying huge demand for people to transact. So, correlating demand of transactions for price hike is still a big theory we need to find out.
