March 29, 2024

BTC by the Numbers: Comparing Bitcoin Network Statistics

BTC by the Numbers: Comparing Bitcoin Network Statistics

Bitcoin (BTC) has made significant progress since its previous all-time peak three years ago. Atin doing so, he overcame technological, psychological barriers and difficulties in acceptance.

In this article, we will compare the current numbers with the previous record high. And if you think that by all indicators you can talk exclusively about growth, then you will be surprised.

Data provided by BitInfoCharts.com show that BTC reached $ 19401 on December 17, 2017, today we have $ 23,011, which is the highest price point ever. According to Coinpaprika.com, the coin's previous all-time high was $ 20,089, up from $ 23,448 reached yesterday, December 17, 2021.

And although the numbers are different, the difference between each pair is about the same - 16.2% and 16.7%.

First of all, let's look at the increased indicators:

  • The price has risen almost 54%, moving from a little over $ 12,000 to a level close to $ 19,000;
  • Market capitalization rose almost 70% to $ 431 billion;
  • Realized market capitalization increased more than 150% to $ 138.84 billion;
  • The hashrate or computing power of the bitcoin network has grown by 1206%.
  • The difficulty of mining has also grown significantly, reaching record highs - the mining pool BTC.com notes an increase of 898.4% in three years;
  • The average amount of bitcoin transactions increased by almost 30% to $ 116,071.

But there are also values ​​that have decreased:

  • Average block size decreased by 11.4%;
  • The number of transactions per day decreased by 15%;
  • Average transaction fees decreased by 64% ($ 4.55);
  • The number of active addresses decreased by 2.8% (890,862).
  • Now there are almost 50% fewer publications about Bitcoin (49,485) than on December 17, 2017.

If you are thinking about the reason for the declinesome parameters, it should be borne in mind that during the first rally, much less people knew about the coin. Consequently, the dizzying rally in 2017 generated much more interest and resulted in more media coverage.

This is confirmed by statistics from Google Trend:the number of requests for Bitcoin has indeed increased over the past 24 hours, but still this cannot be compared with the number of searches in late 2017 / early 2018.

We will wait for the next record high to reconcile the numbers. Given the current volatility, we are unlikely to have to wait long.

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BTC by the Numbers: Comparing Bitcoin Network Statistics

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