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Spiking Numbers of Crypto-Users, Shrinking Numbers of Miners Amid Dipping Price Trend – Cambridge University Research

Cambridge University’s research has recently shed some light on the vitality of crypto sphere with a keen attention at the entry of new users, mining as an activity.

As per their findings, millions are driving into the crypto sphere, however activity on their part remains slightly neutral. Another fascinating and environmental friendly finding is that most mining facilities have now combined some use of renewable energy. 

As per the recent research by the Cambridge Centre for Alternative Finance, their opinion in relation to new users has been:

“Total user accounts at service providers now exceed 139 million with at least 36 million identity-verified users, the latter growing nearly 4x in 2017 and doubling again in the first quarters of 2018.”

Well, the confirmed users of cryptocurrencies almost doubled in the first three quarters of the year despite the massive slumps of Bitcoin price about 80 percent bellwether the bearish cryptocurrency market, while the numbers of users soared from 18 million to 35 million in that period.

Optimistically, when streamlining of new blockchain projects are taking place, these figures also would certainly stimulate and boost-up the confidence of the long-term Cryptocurrency Investors’ mind-set as this would imply that the cryptocurrencies are fundamentally becoming robust. And, boom cycles (Sharp upswings and corrective downswings) of BTCUSD would remind us that the prices too would eventually show growth. Consequently, this could also silence the pessimists and critics who forecasted that price of cryptocurrencies may hit zero levels.

“Conforming with popular narratives, survey data indicates that the majority of users – both established as well as new entrants – are individuals and not business clients,”authors of the study recited. 

Conclusively, mining as an activity has supposedly lost its touch, but this doesn’t come too much as a surprise considering the plummet of token prices throughout the market. Blockchain as a newly invented technology and the trendiest cryptocurrency, bitcoin, has been perceived as an alike prominence to the internet, accomplished of transforming businesses, and social interaction, the entire fabric of advanced world.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at -13 levels (which is mildly bearish), hourly USD spot index was at 118 (bullish) while articulating at (07:25 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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