RATE Group | Someone Say Bear Market? Bitcoin Sets 3 Huge New Records in 2019
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Someone Say Bear Market? Bitcoin Sets 3 Huge New Records in 2019

27 Dec Someone Say Bear Market? Bitcoin Sets 3 Huge New Records in 2019

Posted at 20:28h in Bitcoin News by

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Bitcoin (BTC) was, in fact, anything but bearish in 2019, as new data shows its technical strength has reached levels never seen before.

An examination of three metrics — Bitcoin’s transaction count, USD transaction volume and hash rate — confirms the largest cryptocurrency firmly beat off bearish sentiment this year.

Over the past twelve months, those measures set new records, easily eclipsing previous performance. That included outdoing 2017 figures, fuelling the narrative that Bitcoin price action is no indicator of overall health, though BTC’s value is still up over 100% since last year’s lows. 

Transaction count

The Bitcoin network processed more transactions in 2019 than during any other year. Data compiled by industry analytics resource TradeBlock showed May 2019 was the busiest month ever for Bitcoin, with almost 12 million transactions. December 2017 is now in second place, still with over 11 million.

Bitcoin transaction count, 2009-present

Bitcoin transaction count, 2009-present. Source: TradeBlock,…

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