Blockchain News Today

Bitcoin (BTC) use for commercial payments has reduced meaningfully this year, as per a study by Chainalysis stated by Reuters Nov. 20. To prepare the study, C analysis allegedly surveyed 17 Bitcoin payment processors. The amount of BTC handled by major payment processors supposedly dipped by almost 80 percent from the commencing of the year to September. The analysis of individual payment processors’ figures allegedly portrays a downward trend. At Canadian firm Coin payments, the value of transactions has plummeted by more than half between January and October 2018, Reuters reports, mentioning data from blockchain analysis site OXT. Lex Sokolin, global director of fintech strategy at research firm Autonomous Next, stated that “Bitcoin payments processing is seeing a slow but consistent decline.” Comprehensive data on the leading digital currency used for payments is apparently not consistent since trades with other currencies are commonly comprised together with its

Just days ago, as reported by Ethereum World News, Arthur Hayes, the CEO of Hong Kong-headquartered Bit-MEX, told Yahoo Finance that the lack of volatility in Bitcoin (BTC) could continue into 2019 (and potentially 2020). The long-time crypto pundit went on to cite his trading experience as the catalyst behind this prediction, alluding to the theory that Bitcoin’s “nuclear bear market” in 2014 and 2015 may be replicated today. Following Yahoo Finance’s report, Hayes and the researchers under him revealed further bearish sentiment, issuing an analysis of the crypto market in Bit-MEX’s most recent edition of “Crypto Trader Digest.” The report’s Bit-coin analysis segment, which was subtitled “Bear Market Blues,” first explained that “humans are very bad forecasters,” adding that 2017’s monumental run-up in Bit-coin price — which saw the digital asset move from $900 to just shy of $20,000 — will likely not be replicated until 2019 at the earliest. Hayes then added that a