Will Bitcoin growth slow in 2016? BargainFox and Georgi Georgiev do not think so. In fact, they have even put together an infographic presenting 33 indicators that bitcoin growth is not slowing down this year. However, as we looked closer, only some can be considered indications of growth in 2016 – more than half are merely FYI facts, others are open to interpretation.
We contacted the author to clarify his intention, but received no comment. What follows is our brief overview of the infographic. We divided the indicators into those that are likely to mean continued growth of bitcoinCT r: 5 , those that are questionable, and those that are informative facts without a clear link to bitcoin growth in 2016. Indicators that bitcoin will continue to grow
Indications of the biggest BTC exchanges Five major exchanges have multiplied their volumes up to 8 times and have traded almost $200 million worth of bitcoin in total. While this is still a drop in the ocean, slightly above the GDP of Marshall Islands, the speed at which this drop is getting bigger is an indicator of continued growth in 2016. Daily transaction value Daily transaction volumes in 7-year-old Bitcoin have surpassed 164-year-old giant Western Union . Next in line are Square valued at $5 billion in its last funding round and PayPal whose growth versus Bitcoin is slowing down. Bitcoin VS Paypal While we must note that Bitcoin and PayPal are in astronomically different weight categories as to absolute volume, they are pretty close on daily transaction volume, thus comparing their user growth rates is an interesting indicator. Bitcoin users Bitcoin is still in its hyped early adopter phase, growing fast among tech enthusiasts and slowly but surely attracting brave businesses over recent years. PayPal is already a behemoth convincing more […]
