340 Crypto Companies Closed In 2018
According to the British media Sky News 340 blockchain companies closed in 2018. 60% of them stopped their work in the period from June to November of the current year.
However, the blockchain market continues to grow. This is evidenced by statistics: 817 new blockchain startups were registered in 2018. The authors of the article also indicated that the number of firms closed in 2017 was 139. Thus, the number of bankruptcies increased by 144%, but the number of cryptocurrency enterprises also increased.
Sky News representatives believe that companies have closed due to the fall in Bitcoin. They draw an analogy between the dynamics of changes in the value of BTC and the number of bankrupt enterprises. To make the overall picture even more dismal, journalists say hundreds of Bitcoin owners, who allegedly lost their money, but do not provide specific data. We have a reasonable question - why go around, despite the bearish trend throughout the year? Cryptocurrencies are not gold, so a different approach is needed for them, hiding Trezor with BTC under a pillow this year does not make sense.
For example, let's look at the stock market statistics: Facebook shares in 2018 fell by 33% (from $ 180 to $ 120), and Apple by 16% (from $ 180 to $ 150). The Russian ruble exchange rate fell by 15% against the US dollar (from 57.58 to 68.47 RUB per USD).