Bitcoin Sustains Growth despite Price Slumps
January 21, 2019 1:13 pm
Bitcoin was hardly recognized by anyone when it first launched in 2009. However, it quickly took the financial industry by storm, as it gained popularity in the following years. The project developed by an entity known as Satoshi Nakamoto, has turned into a global phenomenon with the potential to revolutionize the way transactions are conducted. The prominence of Bitcoin accrued significant attention as many hated the concept, and many stood in its favor.
In recent years, the price of cryptocurrencies, especially bitcoin has endured a remarkable downfall. The decrease in the market value caused turbulence among the investors and affected the stability of the crypto industry.
However, data from many crypto enthusiasts indicate that despite Bitcoin’s price drop, it has displayed an exponential increase in its annual lows. The growth in Bitcoin’s yearly lows was specified on Twitter by a crypto enthusiast and researcher, Rhythm Trader, who inferred that the world’s most famous cryptocurrency has gone through a decade long of sustained growth.
Bitcoin yearly lows.
But I guess a decade of sustained growth doesn't get headline clicks 🤷♂️
— Rhythm Trader (@Rhythmtrader) January 19, 2019
The experts in the crypto industry believe that Bitcoin is making progress as it continues to grow and improve. The number of ATMs supporting Bitcoin increased by 100% in 2018. Also the network’s hashrate doubled. These factors highlight positive changes for the cryptocurrency.
Many anticipate that Bitcoin will further its growth in 2019. The crypto community on social media has gradually expanded, generating enthusiasm among the masses who are eager to learn more. Once the technical and security hurdles are out of the way, the worldwide adoption of Bitcoin will have a significant impact on the world economy.