Experts of the research company Chainalysis came to the conclusion that the largest number of transactions using bitcoin is in the nature of speculation.

It clarifies the Agency Bloomberg with reference to the study Chainalysis, for the first four months of 2019, only 1.3% of the bitcoin transactions were economic, that is used for payment of goods and services.

The vast majority of transactions with the coin had on stock trading aimed at gaining the maximum profit in a short time. The low share of the real economic use of bitcoin signals gaining momentum in speculative trends.

The increasing use BTC only as a tool for profit leads to a slowdown of the process of mass transfer of this asset to use when purchasing goods or services.

Senior economist Chainalysis Kim Grauer in an interview with Bloomberg said:

In bitcoin transactions are still dominated by trading. This suggests that the use of bitcoin remains speculative, and its use for daily shopping is still unrealistic

In the period from January to April, about of 87.9% of transactions with BTC were associated with the exchange, the report said experts. However, if we compare this figure with data for the previous year, we can see that the share exchange use of bitcoin is still a bit decreased (from 91.9 per cent to 89.7 per cent).

Parallel to the growing scale of OTC trading largest cryptocurrency. For example, analysts Aite Group recently published a report which predicted the increase of the share of OTC turnover BTC to 65% by the end of 2019.

Message Chainalysis: the lion’s share of bitcoin transactions are speculative in nature appeared first on