Bitcoin skepticism continues to be a thing and this has, unfortunately, struck the global cryptocurrency market as well. January and February were particularly poor months in terms of prices and performances, driven by the sharp decline in the cryptocurrency’s value (right now, 1 BTC trades for about $8400). Besides many blows to the regulatory market and operators, now the Bitcoin exchange websites are reporting a staggering nosedive in visits per month.
February was not a good month if you're operating a major bitcoin and/or cryptocurrency exchange – the web traffic of the most vital websites of this kind rose during December and part of January, only to plummet significantly in February. On average, the visits have fallen by half.
Here is the breakdown for some of the most visited cryptocurrency exchange websites: Coinbase, which had 169.5 million visits in December 2017, only had 63.1 million visits in February – a 49% decline from January's 123.5 million. Kraken has it even worse - it fell by 56%, from January's 31.7 million to just 13.8 million in February. Similarly, Binance dropped by 54%, from 191.5 to 87.3 million.
These numbers are a symptom of the ongoing distrust in cryptocurrencies, particularly Bitcoin who was at the center of much turmoil since it's stellar 2017. Recently we've reported on another big decline, that of Bitcoin's plummet to a two-year low. Why are people, by the looks of it, losing interest in the cryptocurrency exchange? There are a couple of factors that could've led to this. Firstly, the very poor joint price performance of all cryptocurrencies during January and February (with possibly the only exception being Litecoin who is doing well). Secondly, the impossible rise in the value during the last months of 2017 prompted too huge a number of investors to start pouring money in the Bitcoin ecosystem, which set a bar that could hardly be repeated. Consequently, it may be that the aforementioned decline in Bitcoin transactions may have been caused by the smaller volume of adoption and usage. The only upside to this emptying of the market is that fees have been brought down.
Source:
“Monthly Web Traffic For Major Bitcoin Exchanges Falls by Half”, Mizrahi Avi, bitcoin.com, March 23, 2018.
LadyEnygma
6 years ago
Full Member
I couldn't believe how low Bitcoin has gotten! It seems to be a trend that is dying out and that worries me as a USA Player! There are so few options for depositing for US players. I thought Bitcoin was a godsend when I first started to use it. Only issue that I have is the conversions. I can buy 25 dollars worth of bitcoin...
I couldn't believe how low Bitcoin has gotten! It seems to be a trend that is dying out and that worries me as a USA Player! There are so few options for depositing for US players. I thought Bitcoin was a godsend when I first started to use it. Only issue that I have is the conversions. I can buy 25 dollars worth of bitcoin and sometimes it takes so long to transfer through exchange to the casino, you loose money! Luckily some casinos will make up the difference and you can still claim the match bonuses! I wonder if Bitcoin will die all together? Then how will I be able to deposit?
Show morePlease enter your comment.
Your comment is added.
sharpe
6 years ago
Super Hero
Yeah the numbers about some of the major BTC trading sites visits are not surprising at all really, in fact I've expected to be even worst! I think we could see the BTC rate going up sooner or later but I don't have any idea when that could happen, so let's wait and see.
Please enter your comment.
Your comment is added.
zuga
6 years ago
Admin
as we all know BTC and alt coins are super volatile currencies. After it peaked late Dec early Jan, BTC fell all the way down to $6,000. Since it managed to go slightly over $11.5K and been bouncing back and forth between 7-8K. This is why I believe we are currently in the process of consolidation. And yes I would be...
as we all know BTC and alt coins are super volatile currencies. After it peaked late Dec early Jan, BTC fell all the way down to $6,000. Since it managed to go slightly over $11.5K and been bouncing back and forth between 7-8K. This is why I believe we are currently in the process of consolidation. And yes I would be slightly worried if it fell additionally and below $6,000. So far today, it looks like another epic battle between bears and bulls over $8,000 mark. i say giddy up!
Show morePlease enter your comment.
Your comment is added.
Mojo Jojo
6 years ago
Super Hero
Well, I won't be surprised if Bitcoin value drops to it's original value. I personally lost interest in this cryptocurrency and I have also no interest in other cryptocurrencies such as Litecoin, Dogecoin and Ethereum. If you ask me, plain hard cash is the only cash I really interested in.
Please enter your comment.
Your comment is added.
AKQJT
6 years ago
Super Hero
Bitcoin is now around 8000$ today another bad day for bitcoin if it decreases down 7400$ it will fall forever...
Please enter your comment.
Your comment is added.