In 2018, cryptocurrency prices went from all-time highs to catastrophic lows. Bitcoin started the year out above $20,000, then collapsed to $3,200 before year’s end. There are dozens of reasons why this is the case, but a few of the most important were the Facebook, Twitter, and Google cryptocurrency ad ban, as well as the SEC clamping down on ICOs and crypto scams.
South Korean crypto exchange UpBit was raided by authorities, and other international exchanges were hacked. Meanwhile, China imposed even more draconian restrictions on domestic crypto businesses. In response to these and other events, less people were interested in buying cryptocurrency, and crypto prices fell and fell and fell.
Below we take a closer look at the 2018 crypto crash. But not all is bad. We see positive momentum in motion for cryptocurrency. Perhaps 2019 will be the biggest year for crypto yet.