Lightning Network is a scaling solution that allows transactions on the Bitcoin network to be faster and cheaper. With a larger Lightning Network capacity, more Bitcoin can be transacted at faster speeds and at larger volumes. It allows users to send Bitcoin (or satoshis, the smallest amount of a Bitcoin) to send or receive money faster and with lower fees.
The Lightning Network has been growing steadily since its launch in early 2018. The network’s capacity hit 5,000 BTC this week, just four months after it reached 4,000 BTC. This growth is a sign that more and more people are using the Lightning Network to transact Bitcoin.
With a larger Lightning Network, Bitcoin can become a truly global currency that can be used for everyday transactions. The Lightning Network has the potential to revolutionize the way we use Bitcoin and could lead to mass adoption of the currency.
This scaling solution allows transactions on the Bitcoin network to be faster and cheaper, which is a major benefit for users. With a larger Lightning Network capacity, more Bitcoin can be transacted at faster speeds and larger volumes. This allows people to send and receive money much more quicker than before, which is a major advantage.
As the Lightning Network continues to grow, more and more people will likely start using it for their Bitcoin transactions. This could help to further increase the adoption of Bitcoin and bring even more people into the world of cryptocurrency.
What do technical indicators say about BTC?
The Relative Strength Index (RSI), one of the most popular technical indicators, is currently at 58.3, which is in the middle range and indicates that BTC is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD), another widely used indicator, is currently at 0.042, which is also in the neutral zone. Therefore, from a technical perspective, BTC does not appear to be overbought or oversold.
The Ichimoku Cloud, another popular technical indicator, shows BTC in a slight uptrend. The cloud is based on the past 30 days, and as you can see, BTC has been trading above the cloud. This indicates that BTC is in an uptrend.
Conclusion
Overall, from a technical perspective, BTC does not appear to be overbought or oversold. The Ichimoku Cloud currently indicates that BTC is in a slight uptrend, and the Bollinger Bands indicate that BTC is trading in a tight range. Therefore, it is possible that BTC could continue to trend higher in the short term.
