Report: Bitcoin network rate is less than 500%, a new low since 2014

Bitcoin network speed refers to the speed at which Bitcoin changes hands. According to a Bytetree report, Bitcoin's network capacity has been declining, indicating that Bitcoin's network activity has been slowing, which is related to the weak bitcoin price. High network speed means that bitcoin is faster. For example, if the rate is 1000%, this means that Bitcoin loops 10 times a year. The current low circulation rate of about 450% means that the average annual bitcoin is only circulating 4.5 times.
Bytetree analyzes the network speed of Bitcoin since 2013 and concludes that Bitcoin has only experienced four historical “historic hazard levels” of less than 600% in history, on March 30, 2014 and 2018, respectively. January 1, March 13, 2019 and August 20, 2019. In the first two cases, the low rate causes the price to drop. In March 2019, network capacity declined, but the growth momentum quickly recovered, so the price of BTC was not affected.
According to the report, the Bitcoin network rate is currently 463%. The last time this happened was at the end of 2014, Bitcoin is currently flowing very slowly, which may mean that the price of Bitcoin may continue to fall in the next few days. However, Bytetree pointed out that the conclusions of the report are for reference only, after all, the bitcoin market is often unpredictable.