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Woo Law: The number of bitcoin users doubles every 12 months


Bitcoin and crypto-currency researcher Willy Woo, who is highly respected in the community, announced that the number of Bitcoin users is about doubled every 12 months. Using as one of the main indicators of the increase in the number of Bitcoin users of the Google Trends app, Wu formed an infographic showing the exponential growth rate of the bitcoin user base. You stressed that against the backdrop of a stable growth rate and periodic surges, which usually depend on the movement of the price of the crypto currency, in the long term the bitcoin network will continue to demonstrate a steady increase in the user base.

"Now we observe a stable exponential growth of the base with periodic peaks. These peaks are directly proportional to price bubbles, when many users begin to check the value of their coins. The data indicate a tenfold increase in user growth every 3.375 years. In other words, (...) the user base doubles approximately every 12 months, "Woo wrote in his blog article.
The base of users is the main factor in the growth of bitcoin prices

In May this year, the crypto-currency investor and bitcoin analyst Trace Mayer named six key indicators of the long-term development of bitcoin: transactions, price, hashtreys, wallets, trading volumes and volatility.
Price is a practical indicator of the real cost of bitcoin in relation to other assets and currencies. And although at different times the cost of the biton is affected by different factors, the three key aspects of long-term price growth in the last eight years remain the user base, developer activities and global acceptance.
Along with the increase in the number of users, there will be a growing demand for the digital currency and speculation in the crypto currency market. According to Wu, in 26 years, while maintaining the current growth rates of the user base, almost all people on the globe will use bitcoin.
"By the time these children grow up, they will carry out transactions in a world where everyone will use bitcoin," Woo explains.
Market capitalization bitcoin: $ 100 billion

The market capitalization of bitcoin recently topped Goldman Sachs' market cap of $ 95 billion. Now it is approaching a mark of 100 billion, which, undoubtedly, will become a serious achievement for bitcoin and the entire crypto-currency sector.
In the long term, if the rate of distribution of bitcoin in countries such as the United States, Japan and South Korea continues at today's level, the market capitalization of the crypto currency may exceed the capitalization of JPMorgan, the world's largest retail bank, which sucks out $ 350 billion, and reach a trillion mark. Some industry experts, including billionaire investors Tim Draper (Tim Draper) and John McAfee (John McAfee) have reinstalled their long-term price benchmarks of bitcoin to a mark above $ 200,000.

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