Bitcoin has been consolidating in the $16,000 to $16,900 area since December 16. While the price of the flagship crypto has declined significantly from its November 2021 all-time high (ATH) of $68,000, BTC’s total transaction volume has increased.
According to analyst Dylan LeClair, the total amount Bitcoin Settlements are set to increase to $14.843 trillion in 2022, up from $13.1 trillion in 2021 to about $1.7 trillion — roughly 275 million BTC. According to data from LeClair, over 556 million BTC were transacted last year.
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