Bitcoin (BTC) has been doing good so far this year as it seems to have managed to escape from the claws of the bears that held the crypto market captive throughout 2018.
More crypto experts and analysts have been saying that the bull run that took place during the past week definitely marks the fact that we are out of the crypto winter that lasted a really long time.
Now, the Bitcoin network also reached a brand new milestone.
It seems that more than 400 million transactions have been processed on the network, according to the latest data coming from data tracker Smartbit.
The Daily Hodl reported that on average, the BTC network processes about 350k transactions on a daily basis.
The transaction speed is of four transactions per second.
It’s also important to mention that the average cost is of $1.70 in fees per each transaction.
They also make sure to note the fact that since the beginning of 2009, the network has been operating with almost zero downtime.
The estimated uptime of BTC is about 99.98%.
More than that, the number of blockchain wallet users also managed to reach a new all-time high: 35 million.
This is up by 45% since last year in April when the number managed to cross 24 million.
Since the beginning of 2019, the crypto space has been flooded with a lot of price-related predictions.
Most of them have been bullish, and now, especially after last week’s bulls, the trend continues in the same manner.
The latest prediction is also extremely optimistic. In a brand new article at Seeking Alpha, Victor Dergunov called BTC’s recent rally “very likely only the beginning of Bitcoin’s next bull market.”
He believes that BTC’s pattern of bull cycles turning into bear cycles and the other way around will continue, and it will eventually result in BTC hitting more than $100k.
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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