2019 was a record-breaking year for Bitcoin

Despite an overall bearish sentiment and high price volatility, the world's largest cryptocurrency has had quite a successful year.

With the block reward halving scheduled for May next year and a sudden influx of institutional money into the industry, it seems that Bitcoin was inches away from stardom.

The coin's price took some heavy hits this year.

After starting the year at around $3,800, it rose to $12,900 in just 7 months, leading many to believe the market was on the cusp of a bull run that would put that of 2017 to shame.

With no sign of an upward movement in sight, many saw this a complete market failure, calling 2019 Bitcoin's worst year yet.

According to TradeBlock, a provider of institutional trading tools and analytics, 2019 was a record-breaking year for Bitcoin.

"#Bitcoin has had a record 2019 with transaction count, transaction volume, and hash rate reaching new all-time highs this past year," the company said in a tweet.

The company's data showed that the aggregate yearly Bitcoin transaction volume in USD reached its all-time high this year.

This data is in line with the consistent growth in the overall number of Bitcoin transactions.

According to Blockchain.com, the total number of transactions on the Bitcoin network is currently around 486 million.