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Bitcoin Growth Will Continue in 2016

Morag Mcgreevey
Jan. 20, 2016 06:17AM PST
Fintech Investing

BargainFox has published an infographic outlining the “33 Indications that Bitcoin Growth Isn’t Slowing Down in 2016.”

BargainFox has published an infographic outlining the “33 Indications that Bitcoin Growth Isn’t Slowing Down in 2016.”
According to BargainFox:

The dollar price of BTC has been steadily rising since the start of the year [2015], regaining ground after its first major crash. In just the past 3 months it has doubled its value by a $200 increase and there’s no sign of that slowing down as 2016 emerges.
As for the actual trading volume at the exchanges and the overall growth of the exchanges themselves – well both are skyrocketing. From October 2014 to October 2015, OK Coin from Singapore has grown 847%, and even the more western-centric BitStamp has doubled within the year. The market is managing to move $289 million worth of BTC on a daily basis, more than Western Union ($216m) and closing in on PayPal ($397m).
Meanwhile online and offline merchants are increasingly adding bitcoin as a payment method, supported by bitcoin payment service providers such as Coinify, Europe’s leader in processing wide range of digital currency payments. Not just to keep customers happy but because it actually costs them less to process. A negligible 1% is charged for BitPay premium members compared to the major credit card networks, which range between 2% and 6%. This has contributed to the jump from 65,000 merchants accepting BTC to 100,000 plus. While we can imagine some scenarios where it isn’t beneficial to the customer, retailers like TigerDirect are proud to reveal that bitcoin prevents fraudulent chargebacks which are very common with customers using credit cards.

Click here to see the full infographic on BargainFox.

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