Bitcoin News: Many people were skeptical about Bitcoin’s future prospects after the 2018 low price of Bitcoin (BTC). The token has not succumbed to such pressure, and has entered 2019 with a lot of positive stats. One of these is that there have been more Bitcoin ATMs around the world this year.
On December 31, 2018, the actual number was 4,109. The naysayers will argue that 4000 ATMs is not enough and that only a handful of Bitcoin ATMs per country makes the cut. However, it is important that the token’s YOY growth was 100 percent in spite of the bear market.
It begs the question, can any other institution report a 100% YOY growth? Certainly not the European Banks.
European Banks
BTC has faced much opposition from some. It is now that it is time for those few to highlight the state of European banks. Global powerhouses have created financial chaos and malaise all around the globe, thanks to their outdated and expensive technology, high interest rates and money laundering scandals. According and FT
Investors have been driven away by poor profitability, obsolete business models, and negative rates.
The European bank stocks fell by 25 percent on average this year, erasing all gains made in the past six years. None of the 16 largest banks in the Eurozone or Switzerland has been able to trade above their book value. Deutsche Bank, which was plagued by controversy, saw its book value drop to one-quarter and plunge 53 percent in 2018.
According to Statista’s chart, there has been a dramatic decline in ATMs in the UK.
Bitcoin Subreddit Growth in 2018
Bitcoin’s growth has been interestingly observed on social media. Over one million people have subscribed to the Bitcoin Subreddit, r/Bitcoin this year. It has seen a 61% growth in total subscribers despite the bear markets.
To be fair, the Subreddit of Bitcoin’s grew less than its 2017 growth rate of 200 percent. The 61 percent increase in value is remarkable, even considering the 80 percent decline in its value.
For Bitcoin enthusiasts, it is important to note that the infrastructure is improving. Jon, ShapeShift’s Co-Founder, and COO, perfectly summarized this equation.
2018 was a year of rapid technological innovation and growth for all companies in the industry. The bear market is important, but it is a time period with a beginning, an end, and part of a cycle which repeats over the years.
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