Unfavourable Outlook for Bitcoin as Restrictions Bite, Juniper Study Finds

A new study from Juniper Research has found that the value of annual Bitcoin transactions is expected to slide further from the latter half of next year.

According to the study, Bitcoin has not only fallen sharply from its December 2017 peak, but has failed to recover despite the weakness of a number of leading fiat currencies, continuing uncertainty around Brexit outcomes and ongoing trade disputes between the US, China and the EU. The study claims that if Bitcoin cannot make gains in such favourable circumstances, then it is unlikely to prosper as and when these issues are resolved.

The study, The Future of Cryptocurrency: Bitcoin & Altcoin Trends & Challenges 2018-2023, highlighted the fact that daily transaction volumes had also fallen from an average of around 360,000 per day in late 2017 to just 230,000 in September 2018. Meanwhile, daily transaction values were down from more than $3.7 billion to less than $670 million in the same period.

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