The Number of Confirmed Bitcoin Transactions per Day Follows an Overall Upward Trend

The first transaction in Bitcoin history took place on January 12, 2009 when Satoshi Nakamoto sent 10 BTC to Hal Finney as a test. The latter used his own computer to mine the corresponding block.

On October 5, 2009, New Liberty Standard introduced an initial exchange rate for Bitcoin against the U.S. dollar. At that time, $1 was worth 2300.03 BTC.

Bitcoin quietly continued its progression block after block to stabilize around 5,000 to 7,000 confirmed transactions daily in 2011 and 2012.

The first sharp increase in the number of daily confirmed transactions on the Bitcoin network began in May 2012 and peaked at 55,000 confirmed transactions on June 15, 2012.

Bitcoin’s first Halving then took place on November 28, 2012 which started a strong uptrend cycle in 2013.

This bull market cycle helped to get Bitcoin in the news and more people decided to come and test this new digital currency, which was heralded as revolutionary.

Over the following months, the number of confirmed transactions on the Bitcoin network continued to grow daily and reached a new record of 208,865 on July 12, 2015.

Bitcoin’s second Halving took place on July 11, 2016 which marked the beginning of a new bull market cycle that culminated at the end of 2017.

When Bitcoin price hits record highs around $20K, the number of confirmed transactions per day reaches a record high of 424,579 on December 13, 2017.

Bitcoin’s prolonged strong bear market in 2018 caused a sharp drop in the number of confirmed transactions per day.

Despite this bearish market, the number of confirmed transactions per day remained above 150,000 proof of continued high usage of the Bitcoin network.

The number of transactions increased again at the end of 2018 and finally reached a new record of 439,549 transactions confirmed in one day on 1 May 2019.

The return to a bull market in the second half of 2019 then allowed the number of confirmed transactions per day to stabilize at around 300,000.

The return to a bull market in the second half of 2019 then allowed the number of confirmed transactions per day to stabilize at around 300,000.

Bitcoin will have taken just over 11 years to reach a total of 500 million confirmed transactions.

With the expected acceleration in the adoption of Bitcoin as a means of payment over the next decade, it is likely that the billion mark will be crossed much faster.