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2018 marked one of the toughest years in the cryptocurrency world. Bitcoin, Ripple, and Ethereum lost over 80% of their value in less than 12 months. This resulted in traders, investors and miners adjusting to new market conditions.
According to NewsBTC, more than 20,000 mining rigs in China are shutting down due to lack of profitability of mining Bitcoin.
Even Bitmain felt the shake. The center’s vice president in Israel announced the closure of its development center due to the crypto market downturn. He stated:
“The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation.”
However, there are still many optimistic developments and signs that occurred this year. In the below infographic, you will learn more about the growth of blockchain wallets and users, cryptocurrency trends, news, regulatory activities and crackdowns in 2018.
Disclaimer: The opinions of our guest writers are solely their own and do not reflect the opinions of The Daily Hodl. These opinions expressed are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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