Taking the price increase as of late aside, the fundamentals of bitcoin continue to improve.
The fundamentals of bitcoin have continued to improve recently, especially when compared to that of 2 years ago.
Not sure which fundamentals I am referring to?
Well, lets take a look at a couple things other than the price of bitcoin.
Hash Rate...
First, check out the hash rate over the past two years:
The hash rate, which secures the bitcoin network, is up more than 10x in the last 2 years.
Transactions...
Next, check out the number of confirmed transactions on the bitcoin network daily:
Confirmed transactions are up close to 90% since this time 2 years ago.
And, they are up almost 3x from the lows seen in May of 2018...
Users...
Finally, check out the number of bitcoin wallets:
Over the course of the last two years, bitcoin wallet totals are up close to 3x.
Summary:
The number of people using bitcoin has significantly increased.
The number of people and computing power being used to secure the bitcoin network has significantly increased.
The number of confirmed transactions per day has increased.
All in all, I'd say the bitcoin fundamentals are looking very good over the past two years, with many of these metrics even higher today than they were during the price mania peak of late 2017.
Stay informed my friends.
-Doc
I would like to see BTC more private onchain. I know LN is somehow anan but not onchain.
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If it were too private governments would most likely ban it... It's a fine line right now.
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And it will get better as long as there exists a fraudulent financial system of fiat money…
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That is the expectation.
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👍👍👍
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Does this mean you approve?
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Good stuff. Thx.
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You got it.
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Going for it.
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Will this be the best bull trap ever
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The fundamentals or the recent price spike?
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the recent price spike
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It might be. I think more likely you want to be buying this next dip. Just about every downtrend line has been broken... If it doesn't make new lows on this next dip. The next move will be higher.
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Adoption continues to gain traction and we have yet to see full merchant deployment. Who needs an ETF!?!? I prefer this type of metrics than Wall Street!
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These are more sustainable than a major news announcement that causes a pump and then dump.
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Yea, yesterday was a rough day for alts.
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Yea I think we are due for a sizable dip at this point, something like 25% or so from here.
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