![Don’t fret! [btc] has undergone a decade of sustained growth](https://ohiobitcoin.com/storage/2019/01/ww3v31.jpg "Don’t fret! [btc] has undergone a decade of sustained growth")
![Don’t fret! [btc] has undergone a decade of sustained growth](http://ohiobitcoin.com/storage/2019/01/ww3v31.jpg "Don’t fret! [btc] has undergone a decade of sustained growth")
When was first launched in 2009, barely any knew about the project, created by pseudonymous programmer Satoshi Nakamoto. The few that did know of the either hated it with a burning passion or loved it for its long-term potential. And while the former group picked up steam, with mainstream media bashing via FUD-ridden articles, simple data shows that , along with the underlying network has continued to outperform, even amid a number of broader downturns.
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bitcoin Lows Still Increasing Year-Over-Year
Per data gathered and conveyed by Rhythm Trader, a pseudonymous crypto enthusiast, trader, and researcher that touts insightful tweets, ’s yearly lows are up (nearly) consistently year-over-year. Save for the slight hiccup during 2014’s bear season, which was accentuated by debacle, the asset’s yearly low has swelled exponentially as every 12 months have passed.
In fact, in 2012, ’s yearly low was at a mere $4. Now, the same figure is at $3,200 — a jaw-dropping 80,000% gain over the course of seven years.
yearly lows.
2012: $4
2013: $65
2014: $200
2015: $185
2016: $365
2017: $780
2018: $3,200But I guess a decade of sustained growth doesn’t get headline clicks 🤷♂️
— Rhythm Trader (@Rhythmtrader)
With this in mind, while also considering anecdotal evidence, Rhythm concluded that has effectively undergone a whole decade of sustained growth. But ’s value isn’t the only crypto-related statistic to have boomed within the same time period. Per data from .com, hashrate has swelled from ten terahashes per second in 2012 to 38 million terahashes today. The number of transactions has also swelled, with there now being approximately 250,000 processes on the each and every day.
Crypto’s Fundamentals Thrived In 2018’s Rout
Per previous reports from , even amid last year’s rout, which saw tumble by upwards of 80%, industry fundamentals continued to outperform.
In an extensive report, Jameson Lopp, the chief of technology at crypto solutions provider Casa, explained that “by any metric [other than price], the [] system is improving and growing.” Among a number of other bullish statistics, the long-time industry participant revealed that the number of -supported ATMs rose by 100% in 2018, while the network’s hashrate doubled. This all came as the ’s community swelled on Reddit, sparking discussion regarding the propagation of scaling protocols, namely SegWit and the .
Crypto also saw a strong 2018 from institutions. was unveiled, while similar ventures were announced by Fidelity Investments and ErisX’s backers. Over-the-counter desks also became an industry trend, as exchanges and other industry service providers tried to capitalize on an influx of institutionally-sourced greenbacks. In recent months, , , and have all made forays into the OTC/dark pool sector.
And many believe that this underlying thematic development will continue into 2019. Jeff Berwick, the so-called Dollar Vigilante, recently told BlockTV that he expects for 2019 to hail in Wall Street greenbacks, which will “change the game completely.” Berwick stated that as institutional capital floods in, crypto valuations will “explode” en bloc, as there are presumed trillions waiting on the sidelines.
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Published at Mon, 21 Jan 2019 00:02:28 +0000
