Bitcoin continues to hit new records this week
Bitcoin continues to hit new records this week

By AlDiwaniDheyaa | Technology | 10 Feb 2020


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Bitcoin saw a busy week.

The Bitcoin network reached 500 million transactions, and the currency celebrated reaching 250 million transactions in 2017.

The total daily transactions levels not seen in the past five months.

Bitcoin price has been on an upward trend recently.

In 2020 alone, bitcoin managed to add more than 40% to its price point, rising from an annual low of just under $ 7,000 to a price of about $ 10,100.

Now, Bitcoin has reached $ 10,000 which means that it managed to write off nearly half of its losses for 2019.

After an equivalent advance in April of last year with Bitcoin reaching about $ 13,880, then the price drop in 2019 was unabated.

Bitcoin moved from recovering most of its losses for 2018 to a low of $ 6,900 last November.

However, with its expected recovery, it erased losses last year, as Bitcoin broke the $ 10,000 threshold again.

Bitcoin transactions increased

It is not only the Bitcoin price that crushed expectations recently, as the main fundamentals put Bitcoin in a great place.

Data from blockchain.com reveals that Bitcoin managed to bypass 368,604 daily transactions on February 5.

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The last time the network noticed levels of this magnitude was in September 2019.

Although this was not the largest number of daily transactions ever, it still indicates the expansion of the market.

Record transactions were recorded daily in May 2019, when the network reached an all-time high of 452,646 transactions.



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