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Bitcoin’s 10 Billion Dollar Daily Market

written by

Maximus

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BITCOIN NEWS,
April 7, 2018

Bitcoin has come a long way since 2009, over ten years later the total amount transacted through the blockchain is over 6 trillion USD, with a daily capitalization of 10 Billion USD.

Metrics have been compiled from several sources and been taken straight to the blockchain hub that is Twitter. Commentator Josiah Hernandez stated “Anyone doubting bitcoin’s role as a medium of exchange is clearly not looking at the data,”

There has now been over $6 trillion USD in value sent using #bitcoin, with just under $10 billion being sent daily.

Anyone doubting bitcoin's role as a medium of exchange is clearly not looking at the data. pic.twitter.com/lr1AXJRbbv

— Satoshi Capital Advisors (@chartingbitcoin) April 4, 2018

Bitcoin is still showing a steady increase in popularity. Bullish investor Trace Mayer said in a recent tweet; “The 200 day moving average of the estimated daily USD transaction value of Bitcoin transactions is about $2,000,000,000. Multiples of that happen off-chain. Day in & day out Bitcoin calmly chugs along. Bitcoin has never been more secure, liquid, trusted & strong.”

This Is Bitcoin

Current popular opinion on the original cryptocurrency is “the bubble has burst,” however people claiming this may not looking at the data, while industry-wide heavyweights are praising the coin for its economic model and the technical advantages it holds over paper cash money.

The trading pair BTC/USD has been stagnant at around 7000 USD for the past week, opinions differing, stating the bottom is here, or is there a further downside impending.

In recent news from Bitcoinist reported on April 2nd, 2018 that the market capitalization for bitcoin could dip sub 5000 USD before the market sees’s an upwards trend.

Twitter CEO Jack Dorsey remains bullish on Bitcoin claiming in the last months forecast it would become a global currency, not only for the internet but globally.

Bitcoin has already seen drastic technical improvements enhancing the network fees and fixing the scalability issues which have seen the processing times decreased.

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