Bitcoin is now a decade old despite much criticism from naysayers and hurdles created by some regulators in the world. One would, therefore, wonder how it has survived the times? Recently, the nature that has seen its survival was made sense of by ByteSize Capital.

The firm which deals with market research and plays a role in private funding tweeted about Bitcoin’s antifragility property. According to them, this characteristic has protected Bitcoin amid the volatile crypto market dynamics and critics who have enough influence to “impact” on the future of digital assets.

Research done by ByteSize experts points out that Bitcoin, in fact, benefits from bear markets contrary to the popular belief of a soon to be a bubble. This can be seen from the tech developments especially in 2018, a year which saw a reduction of over 70% of the crypto market cap. What naysayers may fail to see is the resilience especially after the crisis that crypto projects continue to put up. The researchers in ByteSize said that crypto market plunges have been the predecessors of new capital, cash flow, and ideas within this industry.

Every argument against Bitcoin is an argument for Bitcoin.

Why? Because of antifragility – that which profits from chaos.$BTC is the world's first asset that benefits from its critics, makes fools of its hijackers & proves naysayers wrong even when they are right.

— NM (@ByteSizeCapital) January 10, 2019

ByteSize gave examples of new projects that came to fame as a result of the tough market conditions in 2018 with Bakkt, Fidelity Digital Asset & ErisX being the most notable. They added that more BTC enthusiasts are acquired as the market edges out crypto projects with no fundamental value. ByteSize documented;

“Ironically, those burnt the hardest often become the most vocal champions of Bitcoin. A 90% drawdown, yet an increase in investor conviction. Can you think of another asset which behaves this way?”

In addition, Bitcoin derives a non-correlation and asymmetry nature from its antifragility according to the researchers at ByteSize. Basically, this concurs with Morgan Creek’s sentiments that naysayers may lose a lot of digital assets make it be the future while die-hard stand to gain if financial trends favor them. Therefore, Bitcoin can be looked at both as an experiment and a storage of wealth asset.

The fundamental value of Bitcoin is today at its highest since the coin’s inception. Most of this progress has happened within the last 5 years with 2018 marking a couple milestones for the digital currency. ByteSize experts have even stated that BTC might be undervalued given its current market price. They have since emphasized for more focus on the underlying nature of BTC as opposed to its price action.

One cryptocurrency dies hard, Armin, gave an overview of some of Bitcoin’s major developments in 2018. Among those that he mentioned include 0.17.0 & 0.16.0 which were installed on the network’s core and launched as well. The 0.16.0 was a significant vehicle for Segwit pertinent integration with BTC mainstream. Another commendable milestone was offline access of the BTC blockchain through services provided by Blockstream to its clients. It is also notable that Bitcoin’s hash rate is improving yearly owing to an interest by mining participants within the cryptocurrency arena.

In summary, the ByteSize research details why Bitcoin has survived and will continue to thrive; these findings are in line with Anthony Pompliano’s view that BTC was built for the future. The Morgan Creek founder believes that even market turmoil’s such as the ones in 2018 have nothing on Bitcoin’s survival.

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