RATE Group | Bitcoin Payments Drop while Lightning Network Capacity Increase
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Bitcoin Payments Drop while Lightning Network Capacity Increase

22 Nov Bitcoin Payments Drop while Lightning Network Capacity Increase

Posted at 07:20h in Bitcoin News by

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Though there was a bit of stability yesterday, the decline would continue. First we expect BTC/USD to pull back ideally towards the $5,000–$5,500 before bear trend resumes. As we have seen, price drops are affecting chip-set manufacturers, investors and crypto payment processors as enthusiast refrain from spending BTC.

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That the market is plunging is true. But while the bear plunger threatens to drive prices to new lows, the side effect has been disastrous not only for ordinary hodlers but for businesses that help boost the network’s infrastructure driving adoption. Recent earning reports from chip-set manufacturers as Nvidia hint of caution as miners switch off their rigs. At the same time, crypto payment processors as BitPay are witnessing a drastic stop in crypto related payments.

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According to an in-depth report by blockchain analysis firm Chainanalysis, transaction…

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