Bitcoin Grew 82,000% in 7 Years But ‘Died’ 91 Times in 2018


Bitcoin died 91 instances in 2018 alone and 337 in complete. But regardless of the newest bear cycle, onerous knowledge reveals that Bitcoin has grown with greater than 82,000 p.c in the final 7 years. 


Bitcoin ‘Died’ 91 Times in 2018

According to web site Bitcoin Obituaries – there have been 91 publications in 2018 proclaiming Bitcoin’s demise.

Interestingly, there have been 125 ‘obituaries’  in 2017, the frequency of which actually peaked proper when Bitcoin was nearing its all-time excessive value of $20,000 in December.

Overall, since 2010, doomsayers have buried Bitcoin precisely 337 instances, in response to the web site.

But how lifeless can one thing be when it’s been operating 24/7 with 99.98% uptime for over a decade now?

82000% Growth in the Last 7 Years

It’s true that 2018’s extended bear market took its toll on bitcoin’s value. BTC 00 is at present buying and selling at greater than 80 p.c beneath its all-time excessive value.

Nevertheless, if one solely measures Bitcoin by its value in {dollars}, it nonetheless seems that Bitcoin is just not solely not lifeless – it has truly grown by greater than 82,000% in the final 7 years.

What’s extra, its fundamentals are nonetheless intact, said Spencer Bogart earlier this month, whereas different metrics like hash rate (community safety) and layer-two scaling options (i.e. Lightning Network) have truly seen unprecedented progress.

Furthermore, since January 1, 2011, BTC’s every day shifting common is 0.325 percent in the optimistic.

Bitcoinist reported final month that BTC returns have additionally outperformed Amazon inventory (AMZN) over the previous seven years.

BTC Adoption is Real

Regardless of what number of instances naysayers have proclaimed its demise, Bitcoin’s possession can be rising.

As reported in October, 4 completely different research by the Ontario Securities Commission and the Central Bank of Canada point out that three to five% of Canadians personal Bitcoin.

Another survey by market analysis company YouGov revealed that as much as 9 p.c of UK residents personal the cryptocurrency whereas 90 p.c of them have heard of it.

What is extra, the US even noticed its first county after which state (Ohio) to start accepting bitcoin for tax funds.

And for one thing that’s supposedly ‘dead’, 2018 noticed over $410 billion transacted through BTC or a median of $13,000 per second (regardless of its lowering worth in {dollars} this yr) .

Finally, this isn’t the primary time the cryptocurrency has suffered 80 plus p.c drops. As it turns out, although, every time it comes again up, reaching a a lot increased excessive.

What will 2019 convey for Bitcoin? How many instances will Bitcoin die in 2019? Share your prediction beneath!


Images courtesy of Shutterstock, coin.dance





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