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January 1, 2019 10: 24 & nbspUTC
| updated:
January 1, 2019 at 10: 49 & nbspUTC
The new year brings new hopes, expectations and optimism for a great year ahead. The same applies to Bitcoin and cryptocurrencies. 2018 was not the best for Bitcoin investors, as it closed the year at around $ 3,745, about 81% from its record high of $ 19,783, and almost 72% from the 39; year.
Despite a massive loss of market capitalization and trading value, Bitcoin is playing in the new year on a high note. It has collected over 10 million blockchain users more than users at the beginning of 2017.
Source: Blockchain.info
Apart from the collapse of the price and the commercial market, 2018 was a legendary year for Bitcoin as it celebrated its 10th anniversary. Bitcoin will also celebrate the 10th anniversary of its Genesis Block, extracted by Satoshi Nakamoto himself on January 3, 2009.
Even after 10 years since Bitcoin has changed the way people see and manage their finances, they are still the king of digital resources. According to the data, Bitcoin is the king of cryptocurrency with a market capitalization of over $ 65.1 billion and a market dominance of 52%.
Bitcoin has also shown its courage in the rate of volatility, with the lowest average daily change in value over the past nine years. Jameson Lopp, chief technical officer of Casa, a multi-signature key service with hardware portfolios.
Bitcoin average DAILY value change during:
2010: +0.82%
2011: +0.76%
2012: +0.26%
2013: +1.11%
2014: -0.25%
2015: +0.09%
2016: +0.22%
2017: +0.78%
2018: -0.33%— Jameson Lopp (@lopp) December 30, 2018
Final thoughts
Bitcoin is the pioneer of the cryptocurrency revolution, with the aim of destroying the current centralized networks of financial institutions that hold the monopoly of people's money. Satoshi's vision of a cashless peer-to-peer network has been met to a certain degree and Bitcoin has become a common form of Internet exchange. It has also made sufficient progress to be suppressed as a security, which in itself is a great achievement.
Prices have hit new lows and the loss of 81% of the total market capitalization. But at the same time, the technology below all cryptocurrencies, Blockchain technology has seen a much broader acceptance. Several countries and governments have made resources available to understand and implement the technology in different sectors for a wider good.
Prashant Jha
As a content writer, Prashant believes in presenting complex topics in simple terms such as laity. He is passionate about technology and an avid reader.
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