One thing is virtually impossible to deny: Bitcoin adoption is increasing. In most cases, this only represents a marginal change. But looking at the bigger picture, one has to give Bitcoin credit where credit is due. Not only is the price increasing, but the number of transactions and unique wallet continues to grow. Cryptocurrency is far from going mainstream, but things are evolving in the right direction.
Multiple Signs of Bitcoin Maturity
In the early days of Bitcoin development, there were concerns over how this cryptocurrency would mature over time. Since hardly anyone seemed interested in the concept at first, it took quite some time before Bitcoin was seen as a commercial tool. The 10,000 Bitcoin pizza was just the first of many millions of Bitcoin transactions to take place around the world.
Looking at the charts today, it has become apparent Bitcoin is maturing in every aspect. Not only are there more transactions and unique users, but the price continues to rise. That latter aspect was not a guarantee either, considering. Bitcoins are still being mined today and will continue to be mined until 2140.
Somehow, the Bitcoin community has been able to soak all of these new coins and not seen a significant BTC value decline ever since. Granted, we are still far away from the 2013 high, but that price was artificially pumped due to a trading bot. Don’t be mistaken in thinking trading bots are no longer being used, but real traders are now determining the price, for the most part.
One aspect people often overlook is how more and more merchants now accept bitcoin payments. Even though one could argue it is still difficult to spend Bitcoin in real life, the number of online retailers accepting cryptocurrency continues to grow every quarter. Particularly the online gambling sector, as well as electronics vendors, are showing an appetite for Bitcoin payments as of late.
The bigger question is what it will take to continue this growth for the foreseeable future. A scaling Bitcoin network would be a great place to start for sure, and we are slowly getting there. Quicker merchant adoption would not be a bad idea either, although it is hard to convince brick-and-mortar retailers. In most cases, they do not even see the point in dealing with cryptocurrency right now.
All things considered, Bitcoin is showing multiple signs of a maturing ecosystem in recent years. A price increase, growing user base, and scaling network are just the foundation of what the future may hold. Keep spreading the word about Bitcoin, and good things will continue to happen.
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