With 2019 ending in a number of hours, here is a look at the positive performance for Bitcoin (BTC) across several network and market parameters.
Bitcoin Price up 95% YTD
At press time, the Bitcoin price is up by about 95% year-to-date (YTD). After a difficult 2018 that saw the top-ranked crypto drop 72%, BTC began the year slowly before entering a massive bull phase in Q2 2019.
This bullish run saw Bitcoin surpass $13,000 in late June 2019 for the first time since January 2018. BTC would, however, fail to maintain these heights as the expected Summer decline interrupted the developing parabolic advance, with Bitcoin unable to sustain a push beyond the $10,000 price mark.
Network Fundamentals Go Sky High
Despite the bearish market conditions of 2018, network fundamentals were on the up until a Bitcoin Cash civil war triggered a hash rate death spiral that saw many mining nodes capitulating.
12 months on from that period and the picture is significantly different, with the BTC network hash rate growing by more than 120% throughout…