Report: Bitcoin Transactions to Hit $92m This Year

The Bitcoin ecosystem is always evolving, and it looks like we are on track to set a new transactions record in the year 2016. A report by Juniper Research indicates the number of Bitcoin transaction will surpass the valuation of US$92bn this year. That is quite an achievement, considering we only reached US$27bn in 2015.

There is no denying the number of Bitcoin transactions on the network is increasing. More and more people have taken an interest in this cryptocurrency over the past 18 months. Sending and receiving of funds, as well as miners receiving block reward payouts, continue to increase in number. That being said, such a spectacular increase was not something most people had anticipated.

Bitcoin Transactions Valuation Will Thrive in 2016

There are three main reasons as to why the Bitcoin transaction valuation will increase so much in 2016. First of all, there has been the uncertainty over the Brexit and its consequences. The majority of these repercussions will only become visible in the next 12-18 months.  Uncertainty across the markets may lead to an increased interest in Bitcoin. Plus, the recent Bitcoin price increase will attribute to this as well.

On top of that, there is

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