According to the reports collated by Bloomberg through interview granted by market research and strategy firm, their study showed that the volume of bitcoin received by most prominent cryptocurrency merchant processing services companies has decreased as compared to its volume last year. This depicts that there is declining volume of bitcoin used for commerce.
Last year's figure of the amount of bitcoin received for commerce was peaked at 411million dollars but it has steadily decreased with the price of bitcoin according to market findings. The transaction fees for bitcoin too has decreased also compared to the fees from a year before. Recent report from the Bank of Canada also showed that most Canadian residents who own bitcoin actually hold them and only few use them for daily transactions.