Since the launch of Bitcoin in 2009, the digital currency has often been declared dead. But to date, both technology and price have evolved. While prices are currently falling sharply, this is not a sign that cryptocurrencies are at an end.
Not to be denied is the strong slide, in some cases of up to 75%, since the bullrun last year in December. The price of Bitcoin is currently at just under $ 4.500 and has therefore grown fast for almost 9 years. Many investors, however, only got in the midst of the rapid price increase or a little later. This is causing much frustration among investors as they have hoped that the price of Bitcoin and other altcoins would rise at the same pace.
Progress in the crypto space
Regardless of the prices, the adaptation as well as the development of many projects has made great progress. The CEO of the crypto exchange Binance reminds with a tweet that the progress is accelerating and the goals of many roadmaps are being met, regardless of whether the price of Bitcoin or other Altcoins goes up or down.
Despite the rough seas out there, builders are building. New releases on GitHub today from:
(This is more than the usual we see from GitHub). Kudos!
— CZ Binance (@cz_binance) November 21, 2018
Furthermore, the capacity of the Lightning network has increased by more than 300% within the last 30 days. This technology is based on so-called “payment channels”. These payment channels are used to “off-chain” payments outside the Bitcoin Blockchain to minimize the burden on the network as the transactions do not need to be immediately validated by the miners.
— Binance Academy (@BinanceAcademy) November 22, 2018
Current developments in the market should by no means be interpreted as the end of the crypto market, as described by some. Many important events that could point the way to the cryptospace are yet to come. These include the launch of the stock exchange Bakkt, or the approval of a Bitcoin ETF by the SEC. The launch of the Bitcoin futures on Bakkt was adjourned to January 2019 – many SEC decisions regarding some ETF applications were also postponed.
There have always been strong fluctuations in price, but Bitcoin has always risen again to restart. The spread of cryptocurrencies is increasing daily regardless of the current price development.