Bitcoin’s Lightning Network Is Scaling For The Next Bull Run – The Bear Market Might Reverse For Good In 2020
The Lightning Network’s growth is set to trigger lots of successful changes.
The latest reports have revealed that the Lightning Network (LN) implementation managed to pass 500 BTC capacity for the very first time.
Statistics from the monitoring resource 1ML.com have confirmed that the record capacity for payments was the one mentioned above.
It’s also important that the number of accessible nodes went up by 13.7% and channels close to 25%.
LN’s improvements triggered growth in popularity and prowess
There have been a lot of improvements for the LN and this added to its growth in technical prowess and also popularity.
LN’s achievements are only a part of the signs that are hinting at the fact that Bitcoin is now located in a strong technical position, maybe the strongest one so far, despite the bearish crypto market in 2018 and the market’s recent massive fall.
More advancements were achieved such as block propagation, the time that transactions need to reach the network nodes, which dropped by 50% this year.
So, the robust technical foundation became an essential argument for whoever combats claim that Bitcoin will ultimately drop to zero after 2018’s extended bearish trend which embraced the markets.
There are also other aspects which include the institutional uptake for BTC for trading which get regular attention.
The latest noteworthy statements come from the crypto-focused venture capital company Dragonfly Capital Partners.
BTC could fall as low as $2,000
“Bitcoin could maybe fall as low as $2,000, or even $1,000, but not $0. And that’s a milestone for an asset,” managing partner Alex Pack highlighted for Forbes on December 23.
“For something like bitcoin, which is a landmark in the history of money, it has become a more dependable store of value. People buying and using it have got to be confident it’s not going to zero.”
Some predictions claim that the bear market will finally wave goodbye only around 2020 when there is the next block reward halving.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.