Why Bitcoin Fundamentals Thrived Amid 2018 Downturn

It goes without saying that bears weren’t kind to the crypto industry in 2018. The aggregate value of all cryptocurrencies fell like a “falling knife,” as retail investors pulled out of this market en-masse and hype dissipated. Yet, even amid this devastating downturn, which beat this market to hell and back, Bitcoin (BTC) quickly became shelter from the storm.

Bitcoin Became A Shelter In 2018’s Storm

Not only did BTC outperform its counterparts on the lower rungs of crypto’s lengthy ladder, but the fundamental performance of the asset’s underlying network were also impressive. As reported by NewsBTC previously, a leading industry commentator claimed that 2018 was Bitcoin’s best year yet, contrary to hit pieces pushed by mainstream media outlets. Data from both Armin and Jameson Lopp, two prominent “Bitcoiners,” accentuated this fact.

In an extensive report, Lopp, the chief of technology at cryptocurrency solutions provider Casa, explained that “by any metric [other than price], the system is improving and growing.” Among a number of other bullish statistics, the long-time industry participant revealed that the number of BTC-supported ATMs rose by 100% in 2018, while the network’s hashrate doubled. This all came as the cryptocurrency’s community swelled on Reddit, sparking discussion regarding