Bitcoin prices have stacked around the $6,000 mark recently. That’s at the low end of their trading range over the last six months.
That may have come as a surprise to Bitcoin bulls. The digital currency supposed to be a hedge against global uncertainty. And there has been plenty of it recently, from Brexit to sovereign debt risk in Italy, and to trade wars with China.
“Bitcoin is experiencing technology growth through payment channel systems like the Lightning Network, but the on-chain network transaction volume has dropped off in the last few months, giving some people cause for concern,” says Dan Rice, CTO and co-founder of Sagewise. “A portion of that drop can be attributed to use of payment channels and transaction batching, but not all.”
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