Bitcoin: Challenges abound in the new year after tumultuous 2018


  • BTC lost nearly three fourth value this year.
  • Many challenges lie ahead to gain lost glory.

Bitcoin, the largest cryptocurrency by market capitalization and the coin that gave Blockchain to the world, lost almost three fourth of its value in the year 2018 and whether it would be able to reclaim its lost glory and the tops of last year is a challenge of its own.

BTC/USD is up nearly one percent on the day at $3,759, near the high point of the day. It is down 72.88%this year as on today, in a year that saw governments and regulators taking a hard look at the coin and its usages by either not allowing ETFs to trade BTC (in the U.S.) or by outright banning banks to not facilitate crypto transactions (India).

On top of all that, there have been ICO scams and hacks that resulted in regulators tightening rules and investors shying away from the crypto world. Adding salt to the injury of existing investors, or as they say, HODLERs was, prices falling off the cliff all through the year.

So the year ahead for the poster boy of the crypto world would be to shake off bad memories of 2018 and start the year 2019 with a clean slate. Easier said than done, as the governments and regulators continue to watch the space closely and are still not openly receptive of the technology. Not yet.

BTC/USD daily chart: Losing >72 pct in 2018

 


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