NSF - Bitcoin is superior to other digital currency by a large margin in 2016. Many investors, traders and businesses who recognize Bitcoin as a global currency world. Bitcoin is able to protect their wealth from strict regulations and excessive government control over finance. These surges Bitcoin increase demand and thus promote the global acceptance. The new wallet are made each quarter even reached 1.1 million purse.
So far 2016 is the year of the capital controls, the fight against cash, restrictions on assets and a decrease in gold. While currency devaluation and assets quickly, Bitcoin continued to show strong performance in terms of adoption and market value. Bitcoin recorded consistent growth by more than 1.1 million new wallet every three months since early 2016.
Bitcoin rapid growth can improve adoption. Bloomberg recently revealed that bitcoin has shown consistent growth in its user base over the past two years. The only info that by 2016, the number of bitcoin wallets in blockchain grow between 5.3 million to 11 million purse added 5.7 new bitcoin wallet since January 2016.
Increased global awareness and the rapid adoption of bitcoin can be connected directly to the instability of the market. Economic struggles of several countries including India, China and the United States can also be associated with it. In particular, the two largest gold importer India and China have started to ban the import of gold, while some countries have imposed capital controls to reduce serious criminal use of cash and cash out flows.
Capital control or capital controls could be a factor. Marco Krohn, co-founder and CFO of Genesis Mining explained to Bloomberg that he strongly believes bitcoin prices will increase up to 100% next year. A users base of digital currency will continue to grow and demand remains high bitcoin areas with heavy capital controls.
Furthermore, if individuals, investors, business and trade continue to develop awareness of the excessive control of government against cash and assets, demand for decentralized as bitcoin currency will rise further and expand the user base globally.
CNBC and many other mainstream media criticized the slow growth of its user base bitcoin in 2015. The media also said that bitcoin will only have 5 million active users in 2019. Some consultants and analysts noted that Bitcoin will not be able to withstand competition in the financial industry.
Based on the results of the analysis, Windsor also stressed that the payment network of tech giants like Apple and Samsung will surpass the growth of bitcoin to attract the general population. Similar to most of the mainstream media predictions and analysis from research firm, this information proved to be false. Bitcoin has seen an enrollment of more than 6 million new purse only in 2016 and with market instability worsened in 2017, bitcoin could also experiencing explosive growth.