Confirmed Bitcoin Payments Hit Yearly Low During Holiday Season
The number of confirmed daily Bitcoin transactions hit the lowest point in a year yesterday, confirming a period of decreased activity often seen during the holiday season. On Dec. 26, the number of confirmed Bitcoin payments dropped to 623,434, according to blockchain.com. Confirmed Bitcoin payments are irreversible once the blockchain network’s consensus mechanism accepts them and includes them in a block. The number of confirmed transactions is a valuable metric used for analyzing investor activity on the Bitcoin network. The drop in confirmed BTC transactions comes after the price of Bitcoin surged earlier this month, reaching an all-time high of $108,000 on Dec. 17. Over 857,000 confirmed payments were made on the same day, which is 37% more than yesterday’s 623,000. Following the drop in the number of Bitcoin transactions, analysts now expect a price recovery above $105,000 as the end of the holiday season nears. Bitcoin Social Sentiment Hits A Yearly Low Anothe...