Bitcoin may make a comeback in 2016, and trading volume has begun to increase

     Hexun Technology News Beijing time January 6, many people still remember the craziness and annihilation of Bitcoin in 2013, including many domestic users who also created many speculators. The passage of time has made those thrilling downward trends gradually fade away. However, not long ago, an article in the online version of the American magazine "Wired" once again aroused the topic of the crazy "Bitcoin". And it is believed that Bitcoin will make a comeback in 2016.

The article states that the price of Bitcoin is currently $434, far lower than the $1,216 at the end of 2013. But what really matters is not the price, but whether people use Bitcoin and whether the frequency of use is increasing.

The latest data shows that daily Bitcoin-based transactions are increasing, and the frequency of use is setting a record. In December last year, the average daily number of transactions more than doubled year-on-year.

In addition, a US company called Coinbase has launched a Bitcoin debit card. This will help Bitcoin become mainstream in a new way. The company said that since its launch in late November, more than 7,500 people have applied for the card. Through the debit card, they have spent more than $50,000 in Bitcoin.

It’s not a huge number, really. But the important point is that any place that accepts Visa will accept Coinbase. Coinbase hopes that this will encourage people to spend more on Bitcoin, rather than just speculate on it. If it does, more merchants will start accepting Bitcoin, and a virtuous cycle will form.

In the second half of 2015, the blockchain, the underlying technology of Bitcoin, attracted the attention of many financial institutions. The potential of blockchain to transform the financial industry has been recognized.

Adam White of Coinbase noted that in 2015, blockchain technology broke through the limitations of digital currencies. Many observers believe this is a "major turning point" for Bitcoin, which is transforming from an online currency. However, White pointed out that 2016 will be the year when the outside world realizes that digital currencies can still change the world.