Bitcoin has increased by 114% – As of December 15, 2018, Bitcoin had reached $ 3,200, a minimum reached after a prolonged decline throughout the year.
The situation has changed in the last year, although it did not follow the optimistic predictions of the ANAs. Even so, the price of Bitcoin has increased by 114% over the last 12 months.
Transaction volumes also increased substantially, from 4 billion a day in January 2019 to over 17 billion in December.
Perhaps the most important evolution is the one represented by the activity on the blockchain. The mining industry exploded, reaching a record value of 120 ETH / S. Also this year, an incredible $ 8.9 billion has been redeployed in just three blocks.
Starting at $ 3,200, the bitcoin price has proven capable of reaching maximum values of over $ 13,800 this year.
By the end of 2019, bitcoin is expected to record another short-term decline, with possible minimum values at $ 6,500. But it is clear that surrender is not a likely scenario, and the BTC promises a significant evolution.
Ross Ulbricht: Bitcoin is likely to reach $ 100,000 by the end of 2020
In a blog post, Ross Ulbricht, the founder of the late Silk Road market, claimed that there is a high chance that BTC will end 2020 at $ 100,000.
Its conclusion is based on the Elliot Wave technical analysis model, which shows that Bitcoin will continue to grow over the next year.
It is important to note that this extremely optimistic possibility is based on similar models from previous years.
“This is just a model that is unfolding, which can continue or not. I should also note that these estimates are based on the evolution of the Bitcoin price in the past. I cannot offer more precise landmarks ”,
During December, BTC fluctuated between $ 7300-7100. Most analysts believe that in the short term, cryptocurrency will test the support value of $ 7,000.
Tether is financing an upgrade of the Omni network
Tether, the issuer of the stable cryptocurrency USDT, has funded the development of the new version of the Bitcoin tokenization layer (BTC) Omni.
The new version of Omni Core 0.7.0 improves network performance and solves a number of existing problems.
Omni Protocol is a system running on the Bitcoin network that allows the creation of tokens, including USDT.
“Omni Core is an enhanced Bitcoin core that offers all the features of Bitcoin, as well as advanced features of the Omni layer.”
More interestingly, Omni Core 0.7.0 allows to build a decentralized on-chain exchange. The new version of the protocol allows users to trade any asset for Bitcoin.
Bitcoin as an instrument of freedom
Director of Strategy at the Human Rights Foundation, Alex Gladstein, expressed his views on Bitcoin in an article for Coindesk. He emphasized that human rights activists and the population in areas with unstable economies are beginning to discover the benefits of Bitcoin.
Even if the Bitcoin network is approaching its twelfth year of existence, its reputation among the masses remains negative. Most consider it to be too volatile, used by terrorists and drug dealers and has no real value.
But there is another aspect of Bitcoin that dissidents and activists are just beginning to realize – that it is an instrument of freedom. For example, Hong Kong civil society organizations are beginning to accept bitcoin donations because their bank accounts are monitored and controlled. Venezuelans, Iranians and Palestinians use bitcoin to make cross-border payments and avoid financial controls and sanctions; The Chinese use bitcoin to convert their assets into a confiscation-resistant value deposit. Argentines, Turks and Lebanese use bitcoin to combat collapsing economic systems; Syrians and Nigerians work in the software industry and earn their daily living in bitcoin.
Over time, more and more people will realize that bitcoin can be a way to gain control over their finances in an era of growing government instability and oversight.