We are close to the lows in terms of price, but the activity levels are near the highs.

Looking at a chart of bitcoin daily confirmed transactions, we can see that the numbers are now approaching levels not seen since December of 2017.

Those numbers were the highest bitcoin daily confirmed transactions ever.

Check it out:

(Source: https://www.blockchain.com/en/charts/n-transactions?timespan=all)

This is interesting because the last time the daily transactions were near these levels, bitcoin was trading for close to $20k!

Right now, we are close to 80% off those highs, yet transactions are getting back to those highs, what gives?

That is likely real adoption due to fees coming way down.

Now that fees are much more reasonable due to SegWit adoption, people are starting to actually use bitcoin again.

One of the unfortunate side affects when bitcoin ran to $20k was severe network congestion and skyrocketing fees.

At one point fees were in the $40-$60 range.

Right now, with transactions approaching all time high levels, fees are near 3 year lows!

The average transaction fee currently is roughly $.40.

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Which is 99% lower than the peak of 2017!

That is great news going forward for both adoption of bitcoin as well as for investments coming back into bitcoin.

Onwards and upwards!

Stay informed my friends.

-Doc