Percentage of Bitcoin payments in the commercial sector has dropped dramatically this year, according to a study by Chainalysis.
The amount of BTC handled by 17 major payment processors reportedly dropped by almost 80 percent from the beginning of the year to September. The value of Bitcoin payments slumped from $427 million last December to $96 million in September 2018.
Despite the confidence of many experts that Bitcoin’s relative stability this year will lead to the mainstream deployment of it as a payment method by both individuals and commercial organizations, some crypto entrepreneurs believe that stability alone is not enough and BTC needs to become cheaper and faster.
Some major companies stopped accepting BTC payments. Among concerns over volatility and regulatory uncertainty, industry players also cite the issue of growing transaction fees and slow transactions speeds as barriers to wider adoption.