Exactly One Year Ago Bitcoin Price Nailed 2018 Bear Market At $3,122

It’s been a wild couple of years relating to Bitcoin’s worth. There’s no denying that. Interestingly sufficient, although, December appears to be an important month for Bitcoin. Back in December 2017, the cryptocurrency hit its all-time excessive of round $20,000. Precisely on this present day a 12 months in the past, in December 2018, the market had tumbled, and bitcoin reached its lowest yearly level at $3,122.

Bitcoin Price At $3,122 On December 15th, 2018

It’s protected to say that Bitcoin’s worth has had its fair proportion of ups and downs all through the previous 12 months.

Exactly one 12 months in the past, on this present day, Bitcoin was trading at $3,122, which was its lowest yearly level.

BTC/USD. Source: TradingView

Fortunately, although, the cryptocurrency bottomed out on the time, and 2019 reversed the cycle. The 12 months began comparatively calm, however all that modified in March and onwards. The worth went from about $4,000 to succeed in $14,000 in June, placing a definitive finish to the extended bear market of 2019.

Since then, nevertheless, it has been downhill for Bitcoin’s worth. It’s at present trading at round $7,170, which means that it misplaced round half of its worth because the yearly excessive. Nevertheless, it’s value noting that the cryptocurrency remains to be up greater than 125% since 2018’s low.

What Else Happened In 12 Months?

Bitcoin’s worth apart, there have been numerous developments and enhancements to its community. One of the issues that definitely wants a point out is the frequently rising hashrate.

Bitcoin hashrate
Bitcoin Hashrate. Source: blockchain.com

As will be seen within the above chart, Bitcoin’s hashrate has been on an uptrend all through all the 12 months. This signifies that the community is changing into an increasing number of safe.

The Lightning Network, which is extensively touted as Bitcoin’s scaling answer, can be gaining an increasing number of traction. Currently, the community’s capability is round 858.08BTC or round $6 million. The variety of nodes can be rising, because it now stands at 10,775, based on the favored LN monitoring useful resource.

In any case, the 12 months has been eventful by way of each Bitcoin’s worth and the accompanying developments. It’s fascinating to see what 2020 has in retailer, particularly given the truth that the Halving is about to happen.

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