Crypto currencies trading prospect this year seems more bullish, what about Crypto currencies prospect for this year, environment for Bitcoin and the Crypto space these days, overall, there is a lot of volatilities, it was straight up, these days it's straight down. so what is the point of view that makes bitcoin bullish again, What's the bull case here for Crypto?
Let start the sad part, when the price is trading down 85%, in some respects. I think if you look at the long-term fundamentals of this asset class, things haven't really changed. We've seen Bitcoin get a little bit more resilient, a little stronger, thanks to some of the challenges of the past year.
And then layer two scaling solutions, like Lightning, which facilitate smaller and much more rapid payments have come online. We've seen challenges from the Bitcoin hard fork kinda dissipate. At one point towards the end of last year, Bitcoin Cash was about 30% of the Bitcoin network.
And Now that ecosystem has had some in-fighting more deep, and has fallen down to a combined seven percent. And if you look at the developer activity, and just the institutional interest in building tools, that make this asset class more accessible, those have all improved drastically over the course of the past year. So, price has fallen. It's done this about four or five times, 80 to 90% corrections at crypto market
If you look at any other time scale, aside from just the last 12 months, this has been one of the top performing assets in the world. it's really getting close forming that base. Indications are getting way oversold. And finally we've seen supply decline, come off a little bit, I mean overall supply. But overall, and the key thing I want to watch is, I want to see volatility get to new lows.
As reported long ago, 180 day volatility bottomed at the lowest 41%, and that was October 2015. And that marked the beginning of the bull market. It needs to go to new lows, and should probably stay there for a while. I have a question for everybody though. You're using Bitcoin and crypto interchangeably. Bitcoin seems to have gotten caught up in the whole mania, the bubble issue, whereas crypto the idea of mediums of exchange is something that is a different issue. you'll have currencies, you'll have commodities, digital resource tokens, which could provision things like file storage or computing power, scarce digital resources of real economic value. And finally you have actual securities that are just issued on top of this new technology.
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