ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
There are a lot of factors that needs to be positive first before the price moves upward. Like you, I am also wondering what is the reason why the prices aren't up when there are a lot of positive things happening around bitcoin.
more sellers than buyers...that's really the simple reason. We can all speculate on why people are selling more than buying, such as recessionary times require people to cash in their savings, or perhaps other investments are more attractive, or perhaps there's been huge liquidation that hasn't been made public.
Transaction volume is good for the "survive-ability" of Bitcoin. The more transactions that happen, the more people are using it...and a successful currency needs people to use it!
Logically speaking if there are more active users than ever, who keeps selling cheaper all the time?
The interest is there, more people ARE coming in, but for some reason some people are cutting their own profits by selling too cheap.
The only ones who can sell are people who have bought before. And the only ones who can sell for a profit are people who have hold for a year or more, since the price has been declining for over a year.
At some point those people should run out of coins to sell, and people are still buying.
Just how do the sellers outnumber the buyers?
I know Bitcoin isn't exactly mainstream yet but it just feels like the things are not adding up, and we are much lower than we should be.