Report: Bitcoin transactions exceed $92 billion this year

The Bitcoin ecosystem is constantly evolving, and 2016 looks set to set a new transaction record.

A report by Juniper Research indicates that the volume of bitcoin transactions this year will exceed an estimated $92 billion.

This is a remarkable breakthrough considering that the transaction volume in 2015 only reached US$27 billion.

It is undeniable that the number of people participating in Bitcoin transactions on the Internet is gradually increasing.

Over the past 18 months, more and more people have become interested in the cryptocurrency Bitcoin.

The amount of money sent and received, as well as the amount of block payout rewards received by miners, continues to increase.

Having said that, such staggering growth was not what most people expected.

Bitcoin trading valuations set to boom in 2016

There are three main reasons why the valuation of Bitcoin transactions grew so rapidly in 2016: First, the occurrence of Brexit and the uncertainty of its consequences affected the market.

The chain reactions brought about by this incident will probably only become clear in the next 12 to 18 months.

The uncertainty across the market could lead to increased investor interest in Bitcoin. Moreover, the recent rise in Bitcoin prices can be attributed to this.

In addition, the most important thing is that the turbulent Chinese economy is still sending shock waves to the entire global market. Since most of the Bitcoin trading volume comes from Chinese exchanges, the number of transactions is likely to continue to increase in the coming months. As a result, the Bitcoin trading price will rise.

Recently, the Bitcoin halving has attracted widespread attention as it is a milestone event in the history of this cryptocurrency.

The less rewards miners earn from each block, the less likely it is that the price of Bitcoin will rise, which will lead to more and more transactions on the network.

But the biggest threat is the potential presidency of Donald Trump, who could cause huge turbulence in global markets if he succeeds.

In fact, his presidency is one of the top ten risks in the world, and no one can imagine how bad things will turn out. At the same time, this will create opportunities for Bitcoin trading to flourish and drive up the amount of transactions and valuations.