CHART: Bitcoin simply refuses to die

Even though the price of Bitcoin dropped to $US263 overnight, from almost $US1000 back in 2013, Bitcoin as a currency is slowly gaining ground.

And due to the sheer numbers, it seems unlikely all of this is being driven by criminal activity, like paying ransoms on viruses.

This chart created by Bitcoin company Smartbit shows that daily transactions are steadily trending upwards. Topping over 140,000 global transactions a day in the last month, up from around 50,000 when prices were at their highest.

It also puts paid to the idea that the blockchain, the technology behind Bitcoin, is the most promising aspect of Bitcoin.

Although, Bitcoin does have a long way to go to catch regular debit and credit card transactions. These account for close to 6 million transactions a day just in Australia, according to numbers from the Australian Payments Clearing Association.

Follow Business Insider Australia on Facebook, Twitter, and LinkedIn