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Craig Wright Copyrights BTC White Paper, Bitcoin SV Soars 90%

Craig Wright, the famous frontman of Bitcoin SV, also known as a self-assumed
Satoshi Nakamoto, has filed documents to patent the ownership of the original
BTC code and the white paper made by Satoshi Nakamoto

Perhaps, the second highly notorious person in the crypto industry after John McAfee, Dr Craig Wright, has found a way to attract even more attention than when he was suing major crypto figures. This time, he decided to act using the global system of patents.

A mere registration is seen as a victory

The news was reported by CoinDesk on Tuesday. Craig Wright has indeed filed registration documents to the US Patent Office. This does not mean that he has actually received any particular patents. The process of patent registration is rather a part of preparation for legal suits that may arise while the submitter tries to prove his right for the patent, says CoinDesk.

The first application to the Patent Office was regarding Satoshi Nakamoto’s white paper. The second one – regarding the original Bitcoin code.

Why the copyright registration matters to Dr Wright

Jimmy Nguyen, the head of bComm Association, an organization that largely supports Bitcoin SV and Craig Wright, said in the press release that he and his colleagues are thrilled by Wright filing these patent registrations, which can finally prove to the world that he is the original Bitcoin maker.

The copyright office sees patent registration
as a weapon to use in court against opponents, as per CoinDesk.

Bitcoin SV surges to the moon

Whether Craig Wright will succeed or not, Bitcoin SV investors are already making more than healthy profits – several hours ago, when the news just appeared, Bitcoin SV spiked over 90%, as per CoinMarketCap. It even managed to replace Tron on position #11.

Source: CoinMarketCap.com

However, now the excitement seems to have gone down a little and BSV is now showing a slightly under 55% rise. And Tron is back in spot #11, while Bitcoin SV is trading in position #12.

Source: CoinMarketCap.com

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New Research Shows Bitcoin (BTC) Conversation Has Matured Dramatically

Bitcoin BTC Conversation 2019

The recent price rally for Bitcoin and cryptocurrency has a number of analysts and investors scratching their head and asking the question: what’s different between now and 2017?

While coin prices fell through the majority of last year, leading analysts to label 2018 a crypto winter, the market reached an all-time high in late 2017 following a massive bull rally for Bitcoin. Despite currently trading at under $8000, the price of BTC reached an all-time high of $19700 in the final weeks of December 2017. At the time, it appeared that Bitcoin was finally receiving the adoption and investor interest it deserved after nearly a decade on the market.

However, it quickly became apparent that market prices had outstripped valuation and usability, and the entire landscape of cryptocurrency collapsed with coin’s falling 80 percent or more over twelve months. In the aftermath of the price fall, analysts pointed to Fear Of Missing Out (FOMO), unrealistic expectations and greed as primary contributors to the spectacular boom and bust cycle for Bitcoin.

Bitcoin Conversation Evolving

Compared to eighteen months ago, alternative data provider Indexica believes that Bitcoin has matured as an asset since the last bull rally, and has published research supporting their claim. The group created a custom index processing the language contained in thousands of text documents related to cryptocurrency and Bitcoin, and found that the industry, as a whole, has matured greatly over the last several years.

According to their findings, professional discourse around Bitcoin has continued to grow throughout 2019, marking a key price indicator for the currency’s rally since the start of April. As outlined by Bloomberg, Indexica’s findings show three main drivers for growth:  “a more complex conversation surrounding Bitcoin, fewer concerns about fraud and a shift in the tense of how Bitcoin is talked about from the past to the future.”

‘Complexity of Bitcoin’–defined as a measure of the quality of discourse surrounding the asset–made up the majority (24 percent) of the conversation related to BTC. Indexica attributes the increased quality of discussion to the growing pool of academics and professional investors now populating the space of cryptocurrency, moving beyond the niche technology market it represented just a few years ago.

Bloomberg cites the entrance of Fidelity Investments getting into the cryptocurrency game for institutional investors as one strong indicator that the marketplace for Bitcoin has changed dramatically over the last eighteen months. In addition, Wall Street investment bank JP Morgan Chase has also given a vote of confidence to the utility of digital assets, by creating the in-house JPMCoin.

Interestingly, Indexica’s study also found that the tense of conversation surrounding cryptocurrency has changed within the last month. Futurity of Bitcoin, which logged 15 percent of the indexed conversation, gives an indication that discussions are geared towards the future of BTC–as opposed to what has already transpired. SInce the start of April, the future for Bitcoin and the crypto markets has been a dominant topic of conversation, providing another indicator on the direction of the industry.  

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Mark Mobius Supports Bitcoin (BTC) After Previously Calling Cryptocurrency A “Fraud”

Mark Mobius Bitcoin 2019

One of the most recognizable figures in investing has had a change of heart in his opinion towards Bitcoin and cryptocurrency.

Mark Mobius, cofounder of Mobius Capital Partners, recently spoke in a Bloomberg podcast where he claimed that Bitcoin will be “alive and well” into the future. Despite his current positive attitude towards Bitcoin, Mobius delivered a scathing critique of BTC in May 2018, when he called the currency a fraud.

Now, with the price of Bitcoin achieving relative highs and plotting a scorching path of price gains, the long-time investors has come to believe that cryptocurrency will offer utility to consumers not currently provided through fiat,

“There’s definitely a desire among people around the world to be able to transfer money easily and confidentially. I believe bitcoin and other currencies of that type are going to be alive and well.”

While Mobius may concede a future that includes Bitcoin and cryptocurrency, he has yet to invest personally in any of the digital assets. Mobius told Bloomberg,

“Whether I would invest in it is not a question. You have incredible volatility and, at the end of the day, you can’t chase one individual group or one organization that will keep track of what is going on.”

The 82 year-old investor also took the opportunity to spread some caution on cryptocurrency, telling traders to be careful. Mobius pointed to the massive and high-profile collapse of cryptocurrency exchange Mt. Gox in 2014 as an example of the risks involved in crypto, which saw users lose hundreds of millions in BTC stolen from the exchange.

Mati Greenspan, senior market analyst for eToro and regular cryptocurrency commentator, was an early advocate of the shifting attitude towards cryptocurrency in Wall Street and established financial institutions. In a note to clients, Greenspan wrote,

“Many of those who are heavily entrenched in the old financial system are unsurprisingly unswayed by the benefits of crypto, but that’s changing rapidly. The volatility is one of the most attractive qualities of crypto from an asset managers perspective.

The idea of asymmetric risk allows us to use this unique and uncorrelated asset class to greatly increase our return on risk in any otherwise well-diversified portfolio. Just as I, in my portfolio, am holding about 3.5% in emerging markets, I believe that one day soon asset managers around the world will diversify with crypto.”

While the crypto markets have experienced a small contraction on the day, broader forces appear at work driving interest to the industry. As pointed out by Mobius, growing conflict between the United States and China in a looming trade war has investors feeling shaky about the traditional markets. Just as Brexit previously drove capital into cryptocurrency before it’s October-delay, tensions between the U.S. and China have made crypto an alternative source of investment.

In addition, the high profile development of coins by social media giant Facebook and J.P. Morgan Chase has led to a legitimizing effect of cryptocurrency. While the technology was previously thought of as niche, Bitcoin and cryptocurrency is heading in the direction of a mainstream product.

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Analyst: Bitcoin Moving Average Points to More Gains Ahead

Bitcoin BTC 200 Day Moving Average

While the crypto markets are showing slight contraction, with Bitcoin holding trading above $5000 in the hope for renewed price action, several analysts are pointing to the 200-day moving average as a bullish indicator.

The most recent bull run for Bitcoin and the larger cryptocurrency marketplace gave BTC its best day of trading since the massive valuation increases seen during the final month of 2017. After a strong weekend of growth, BTC price shot to $4700 on April 1, and continued to gain an additional 20 percent on April 2 to take the currency above $5000. The next two days brought about a consolidation in trading, with the price of BTC fluctuating around the $5k as both bullish and bearish investors weigh in on establishing a new floor or ceiling for the coin.

However, the market price for BTC represents a substantial increase over prices experienced earlier in the year, when Bitcoin appeared to be destined for $3000 or lower. The recent price rally has given a strong indicator to analysts that the top cryptocurrency by market capitalization likely found its bottom at $3000, with the next movement representing a broader trend in how the coin will proceed into the remainder of the year.

New York-based Fundstrat Global Advisors finds that Bitcoin could be about to extend into a 200 percent price surge, making the currency worth $13,500 if current indicators hold true. According to the research firm, Bitcoin closed above its 200-day moving average on April 2nd for the first time in more than a year, mostly due to the massive price rally that initiated the price kick-off.

In a note to clients, Fundstrat explained that closing above the 200-day moving average has been a historically bullish indicator for BTC, with a win-ratio of 80 percent compared to that of 36 percent when the coin trades below,

“Based on bitcoin’s trading history, a move above the 200-day moving average for bitcoin is meaningful statistically. When bitcoin is above its 200-day moving average its win-ratio is 80% compared to a mere 36% when it is below its 200-day.”

Fundstrat continued that trading above the 200-day moving average significantly increases six-month forward returns, which average 193 percent compared to a “measly 10% when below its 200-day moving average–hence, being above the 200-day moving average is a big deal.”

While investors, both bullish and bearish, attempt to sort through what the most recent price rally means for the valuation of Bitcoin, most community members are looking at market conditions differently than they did in 2017. Compared to that time, cryptocurrency adoption has grown substantially, with major companies such as Facebook and J.P. Morgan Chase now providing a new face of confidence for the industry.

The fear that cryptocurrency may once again find itself over-extended, with coin prices vastly outweighing the actual valuation and impact of the technology has been dwindling since the start of the year. Already industry hopefuls and cryptocurrency enthusiasts are finding reasons to own crypto outside of what they can accomplish through price speculation.

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Report: Bitcoin Wallet Activity Spiked Week Before Bull Run

Bitcoin Wallet Activity Price Rally 2019

Despite analysts scrambling to find the reason behind Bitcoin’s most recent price rally, during which the currency increased 25 percent in the span of days, one firm is pointing to wallet activity as a sign of increased adoption.

According to market intelligence firm Flipside Crypto, digital wallet activity for Bitcoin and other cryptocurrencies saw a spike in activity over the previous two weeks. The wallet activity gives some indication in an uptick of user activity and industry adoption, even before the most recent bullish turn in valuation.

Historically, around 40 to 50 percent of circulating Bitcoin has been held in wallets that are inactive for greater than a month, likely due to the bulk of investors keeping their coins on exchanges. However, Flipside Crypto reports that figure falling to only 10 percent since March 15, showing a significant increase in user activity over the last several weeks.

“If you are a crypto optimist, that’s good news,” Eric Stone, co-founder of Flipside, told Bloomberg. “There are more people warming up to the idea of buying Bitcoin.”

Stone also reports that the wallet activity and price movement for the most recent rally has been less attributable to the activity of whales. Instead, the sharp increase in wallet activity from accounts that have typically been dormant indicates a broad-based “waking up” of many smaller investors. Cryptocurrency investors, likely those who have remained inactive or price-stricken during 2018’s ongoing bear market, are now taking greater interest in market price movement.

While the previous 12 months may be referred to as a “crypto winter” for the marketplace, this week’s exponential price rally and data surrounding wallet activity contributes to a more holistically driven valuation, as opposed to the action of whales. Stone points out that the plummeting price of BTC in November 2018, when Bitcoin fell 40 percent, was the result of a few whale investors shifting positions. More price movement has given a much different indication, with Flipside Chief Executive Officer Dave Balter telling Bloomberg,

“We see this move much more valid than a few whale moves in October. This probably signifies a change in perception or confidence in this asset class.”

Some analysts have pointed to a massive BTC buy spread across several exchanges as being the primary catalyst for Bitcoin’s price movement. Community members have interpreted this as indication of institutional investors at long last entering the market of cryptocurrency, likely ahead of increased mainstream adoption building throughout 2019.

With the possibility of a Facebook Coin looming over the industry’s head, it is clear that cryptocurrency has turned a corner in terms of developing real world interest. While crypto, overall, may still represent a niche digital asset class, the boom that could follow major developments such as Facebook are too enticing for large capital investors to pass up.

Brian Kelly, speaking yesterday with CNBC, called for Bitcoin to continue to $6000 off the most recent price rally, and predicted that the market as a whole had found its bottom as coin prices have continued to rise throughout most of 2019.

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Payoneer CEO Calls Single Currency Bitcoin (BTC) Unrealistic

Bitcoin (BTC), Cryptocurrency–With the crypto markets staging a small recovery on the day and looking to close out the year on a relative positive note despite 2018’s ongoing bear cycle, the number one currency by market capitalization continues to be divisive.

Speaking in an interview with CNBC published on Dec. 28, Scott Galit, CEO of New York-based payment processing firm Payoneer, made the claim that a single global non-fiat currency like Bitcoin was unrealistic.

Galit’s take on Bitcoin hinges more upon what he views as an unattainable position for BTC to become a single, unifying global currency as some have pushed as a possibility for the decentralized coin. Galit admits that the idea of a non-fiat, digital currency is appealing to large swaths of the internet as a way to get past the hurdle of international transaction barriers, but finds the application unrealistic,

“Despite the interests of lots of people out there in the Internet world who love the idea of frictionless commerce and frictionless money and avoiding fiat currencies, I don’t see it”

In particular, Galit cites the unlikelihood of the U.S. government accepting BTC for taxes on account of the extreme price volatility of cryptocurrency. As outlined by Galit, the U.S. government would be exposing itself to an exchange rate that fluctuates to the degree of BTC, an outcome that would never make its way through Congress,

“Now you could have a debate whether taxes are fair or unfair or whatever but they are a reality. There are going to be taxes because governments need revenues,” Galit says. “Countries actually need tax revenue in order to fund services for their residents.”

In November Ohio became the first state to allow taxes to be paid in Bitcoin, beginning with businesses and increasing in availability to individual filers. However, the process involves a trading platform which converts the paid BTC into dollars, protecting the state from the aforementioned volatility of cryptocurrency.

Galit also calls upon the responsibility of the Federal Reserve to maintain control over the nation’s fiat, a source of leverage that would become worthless in the event of BTC becoming a dominant currency,

“Central bankers are there to actually help manage the economies and provide kind of stewardship for those economies,” Galit says. “Part of that is actually managing currency in the interest rates [for lending] and in exchange rates. If you don’t actually have any control over a currency you’ve lost one of the major policy tools that you have, so what do you do?”

Galit’s comments come just one week after Yahoo Finance named payment platform Square as their company of the year. Square, which was founded by Twitter’s CEO Jack Dorsey, began offering Bitcoin as a trading option in November 2017, with the company going to great lengths throughout 2018 to push the feature as a legitimate division of their service. In November, Square announced that BTC based revenue for Q3 had climbed steadily to $43 million, upt from $37 million in the previous quarter.

Dorsey, who also presides as CEO of Twitter–a social media platform likely feeling the pressure to enter cryptocurrency following rival Facebook’s ties to a stablecoin–has long been vocal in his support for Bitcoin. In March, Dorsey broke headlines by stating that he believed Bitcoin could become the world’s single currency, catalyzed by internet adoption,

“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin”

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Facebook Cryptocurrency Shows Path Forward is Integration, Not Domination

Blockchain, Cryptocurrency, Facebook–Last week, EWN reported on an industry rumor that Facebook, the social media giant with over 2 billion active users, was in the process of developing a new stablecoin cryptocurrency. Details on the token included an emphasis on being used for payments via the WhatsApp messaging service, with a particular focus on expanding into the largely untapped digital payments market of India.

Some pundits have used the Facebook development as an opportunity to cast stones at the broader industry of cryptocurrency, with the argument that Big Tech is now taking the reins of the blockchain away. As opposed to cryptocurrency being used as a tool of subversion for the established tech industry, in a similar way that the digital asset side has the potential to circumvent traditional fiat, the rise of Facebook Coin is putting the more libertarian narrative into a flux.

However, the adoption of cryptocurrency by a company as large and entrenched in the global social system as Facebook is an indication that the technology is reaching a critical point of validation as opposed to being swallowed by the zeitgeist of established platforms. The road to Main Street, like all technologies, is paved through integration, not domination. Cryptocurrency and the underlying proof of blockchain is a multifaceted conceptualization, made up of tenets of usability and belief.

Will the crypto anarchists be upset that a mainstream corporation is co-opting their beloved technology? Possibly. The advent of Google and internet conglomerates did not slow down the juggernaut of file and data-sharing for those who saw the technology as a portal to freely distributed information. Cryptocurrency will find a similar footing for different groups based upon their necessities. Stablecoins provide Facebook and like-minded social media platforms a secure means for transferring value globally, while also providing the innovation of truly digital money. Bitcoin, like many other cryptocurrencies, holds a distinct position as a digital asset, one that can be freely traded, speculated on and treated as an investment property in addition to currency.

If cryptocurrency continues to gain footing in mainstream corporations–a revelation that few investors in the industry would be sad to see–the rise of privacy coins could be a logical extension. While Facebook, Twitter and other casual operations will prefer the lack of volatility found in stablecoins, others users of crypto may seek it out as a means of private transactions, finding more utility in anonymous coins such as Monero and the like.

The watermark for Bitcoin and other cryptos is being used to buy a coffee at Starbucks, not overthrowing governments. Facebook is not taking away from the industry by building their own coin–they’re contributing to the recognition of the industry as a legitimate technology and providing validation for its use.

The staunch libertarian and anarchic ethos that has been entwined with cryptocurrency since its conception was the radical, passionate fuel that was needed to light the fire of development. It’s not casual interest that would give someone belief in an industry down over $600 billion in one year–but a belief for the potential of a technology and a futureseeking vision of what it could become in society. Facebook adoption is the integration that will lead to crypto-ubiquity, not the nail in the coffin that some see it as.

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Bitcoin (BTC) Leads Google Trends Most Commonly Asked in 2018

Bitcoin (BTC), Cryptocurrency–While market prices continue to look shaky for cryptocurrency and the broader altcoin market, Bitcoin managed to score a minor win on the day. According to the analytics trending tool published by Google, “What is Bitcoin?” was the most searched phrase for the question-asking category for 2018. Both United States and United Kingdom Google users searched for information about the number one cryptocurrency by market capitalization more than any other topic, giving an indication that–while some would proclaim the technology a bubble in the process of bursting–there still remains interest in the field of cryptocurrency.

Rounding out the top five included “What is racketeering,” “What is DACA,” “What is a government shutdown” and “What is Good Friday.” Bitcoin’s top position for Google’s rankings comes at a time when the currency is experiencing its relative lowest point for the year. Last week EWN reported on the state of the crypto markets in 2018, with BTC experiencing its worst monthly loss in November since August 2011. The price fall for Bitcoin comes at the tail end of an already bearish year for cryptocurrency, seeing the entire market capitalization tumble from over $800 billion to its present value of $110 billion.

Bitcoin, in particular, has ceded its share of losses, dropping from close to $20,000 at the end of December 2017 to today’s trading price of $3500. While some analysts have pointed to indicators that BTC and the crypto markets may be entering oversold territory, with a potential bounce coming for investors, others have pointed to a much dire future for crypto into next year.

News of search interest for the cryptocurrency is a welcomed sight for investors amidst the price fall, with many claiming a fundamental lack of understanding by the general population for being a catalyst to Bitcoin’s recent price drop. As opposed to learning about the technology and the potential for cryptocurrency, investors through money at BTC, altcoins and ICOs with abandon throughout 2017’s bull run, leading to the bloated market prices to start the year that would inevitably lead to the crash.

With the conversation shifting from the daily price movement of Bitcoin and the money to be made from investing in the digital asset, industry enthusiasts are hoping to garner more focus on the development and adoption for the technology. Last year saw “blockchain” and “cryptocurrency” become to buzz words, similar to the social media and app-development frenzy in the early part of this decade, which fueled unrealistic expectations for the industry. Bitcoin, as a technology, was unprepared to handle the influx of consumers, which led to the service becoming nearly unusable with skyrocketing transaction fees and unacceptable confirmation times. Detractors of the digital asset quickly latched onto the flaws of the currency under high network stress, leading to a negative shift in sentiment for the viability of cryptocurrency and contributing to the growing investment uncertainty.

With the market turned at the start of the year, it did so with equal ferocity to the bull run which ended 2017. Now, entering the final month of 2018, the majority of currencies are sitting on over 90 percent losses since their last all time high, with most financial analysts calling for further crypto blood and claiming that the bubble has finally popped.

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Bitcoin (BTC) ‘I Told You So’ At All Time High

Bitcoin (BTC), Cryptocurrency–Not much has changed in a year.

While the price of BTC has slipped precipitously since ending 2017 trading near $20,000, the industry of cryptocurrency has remained as polarizing as ever. Throughout the bullish run that characterized last year, economists, financial reporters and Wall Street moguls continued to point out the flaws of the number one cryptocurrency by market capitalization. Ranging from the dangers of deflationary currencies to the extreme price volatility of the crypto markets, Bitcoin had no shortage of detractors who attempted to steer away investors even during the height of price appreciation.

Rather than focusing on growth through adoption, educating a population on a novel technology or establishing legitimate uses that extending beyond “digital money,” the narrative surrounding Bitcoin and cryptocurrency became one of greed and confusion. The relentless media cycle at the end of 2017 fluctuated between arrogant perplexity and annoyed FOMO, with early crypto adopters being hailed as visionary innovators or just plain lucky depending who you asked. The water cooler conversation for crypto made an abrupt change from “What is Bitcoin?” to “How can I get rich?”

The end result, which should have been predictable from a standpoint of a nascent industry, was over-inflation of value and even greater expectations. The bull run to end 2017 and extend into the first weeks of January was built upon investors who felt fearless in their decisions, not taking the time to learn about Bitcoin, cryptocurrency or the extensive altcoin market–including a litany of ICOs that would prove disastrous over the year. A white paper and a promise was enough to drive billion dollar valuations, with most investors simply looking for the next coin of the day to get pumped on exchanges.

As opposed to the organic growth that most technology needs to establish itself in the mind of Main Street, Bitcoin became the unfortunate recipient of overextending expectations. Investors  bought into crypto with not just the expectation of asset-appreciation but ludicrous overnight wealth to be obtained. Few asked where the technology was at in terms of development, and why certain barriers to scale–such as transaction fees and speeds–would still be months and years away from being solved.

The market collapse that followed in January and February, extending into the final month of the year with Bitcoin and altcoins hitting their relative low, has brought out a host of schadenfreude, with nearly every economist and analyst waiting to cast stones at the industry of crypto and the investors who bought in during the fall. For most in the industry of crypto, the financial narrative is producing an ongoing annoyance, with Bitcoin having been proclaimed “dead” many times before. But the overtone being applied to the more recent articles on Bitcoin’s demise is one filled with glee over the failure.

While some take pleasure in painting Bitcoin as the greatest bubble in history that finally popped, it’s becoming increasingly hard to take serious the opinions of financial professionals and experts who are allowing their emotional sides color their analysis. Somehow, Bitcoin transformed into as much an ideology as a technology, one that detractors feel compelled to stamp down upon to the extent of being irrational.

If anything, that might be all the indication supporters of Bitcoin need to find continued hope in the future of the currency.

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Bitcoin (BTC) Subreddit Surpasses One Million Subscribers

Bitcoin (BTC), Cryptocurrency–While most investors run for cover amidst the falling crypto prices, as the bear market of 2018 extends into the final month of the year, the Reddit based community for the number one cryptocurrency by market capitalization has hit a new milestone.

On Dec. 2, the subreddit for Bitcoin reached 1 million subscribers, marking a historic moment for the community that few other groups on the site have been able to achieve. Amazingly, given that coin price have fallen 70 to 95 percent from their high in January, the community of cryptocurrency has managed to show resiliency that could pay off in the long run.

Bitcoin, in particular, has cultivated a strong a following of investors who are looking for more than just profit. The community formed through Reddit has not only found ways to give back to need-based programs through the significant wealth created in last year’s bull run (such as the Bitcoin Pineapple fund which gave away a whopping $86 million to 60 charities–all from the generosity of one Bitcoin user), to consistently finding ways to form grassroots adoption.

While some have chosen to trade Bitcoin for the price speculation alone, the technology has a struck a chord with the majority of its following which extends beyond just being another appreciable asset. Each user may have their own reason for supporting the currency, ranging from a belief in the technology of blockchain and the superiority of digital currencies over their fiat alternatives, to a politically-oriented ideology that espouses decentralization and more libertarian views. However, the vast number of Reddit users and Bitcoin supporters around the world hold opinions that are a far cry from the one being attributed by mainstream outlets and economists–one that continually seeks to label crypto investors as gamblers, pyramid schemers or the propagators of a malicious virus.

With the subreddit now eclipsing 1 million subscribers, it contributes to the growing paradox of 2018 that was touched upon by Mike Novogratz in a conference call last week. As reported by EWN, the billionaire crypto supporter made no qualms about the state of the industry throughout this year, claiming it has been, “a horrible bear market in tokens,” with “plenty of reason to be depressed.” Despite the plummeting price of Bitcoin, which experienced its worst month of losses in November since August 2011, the support and adoption for the digital currency is on the rise, creating the bedrock for the technology to perform in 2019 and beyond.

While Google searches and general excitement for cryptocurrency has eroded with the market capitalization, down from nearly $900 billion in January, the industry has moved past daily appearances on CNBC and other popular outlets which were fixated on the climbing price and overnight millionaires being created in last year’s bull run. In place of that attention is a recognition that the industry still has yet to grow, with prices outpacing real world use at the start of the year. It’s not enough for Bitcoin to grow from exchange driven, price speculation alone: the currency has to find a footing in both usability and mindset for mainstream consumers before it can hope to match last December pricing.

Until then, the growing community for Bitcoin on sites like Reddit continues to provide a window into the state of crypto adoption, and the willingness for a segment of the population to try the technology that has been hailed as the next greatest innovation since the internet.

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