DataLight predicts that if the growth of the crypto network continues at the same pace, then within ten years, Bitcoin will be ahead of other payment systems, such as Visa and MasterCard.
DataLight made such a forecast in a study comparing bitcoin with traditional payment systems, which also included PayPal, noting the rapid development of cryptocurrency since its creation in 2009.
“In just 10 years, Bitcoin was able to compete with the leaders of the payment system industry. The development of the network is taking place exponentially and if it continues at the same pace continues, then in 10 years, Bitcoin will surpass all competitors.”
DataLight researchers also note that despite the current technical obstacles, Bitcoin will become the main payment network in the world. Despite the fact that in some areas, Bitcoin lags behind the traditional players in the industry, the network wins in other directions, for example, in terms of average transaction amount. In 2018, it was $41,615, compared with $90 of Visa, $80 of MasterCard and $58 of PayPal. This indicates the convenience of using Bitcoin as a method of transferring large amount of money.
The research also shows that the average daily volatility of Bitcoin was more than 6% in 2018, which is almost 3 times higher than the average daily volatility of the competitors.
In February of this year, DataLight published another study related to the cryptocurrency industry, declaring that in the main cryptocurrency exchanges the most active traders are from the USA.