Bitcoin transactions are in rapid decline as the cryptocurrency market continues to shed value since its recent peak.
The global crypto market lost $200 billion overnight leading into Tuesday morning, adding to $300 billion losses for the week. Momentum pushed the global market cap down since Bitcoin (BTC) hit a recent peak in April, followed by an altcoin peak in early May.
The recent slump also coincides with a marked decline in the number of transactions flowing through the Bitcoin blockchain.
Whether the general decline continues is a matter of intense speculation for market analysts, who provide both optimistic and ominous predictions for the future direction of the BTC coin price.