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.
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