2022 was the year of the cryptocurrency crash

The ήταν η χρονιά αποκαθήλωσης των κρυπτονομισμάτων, τα οποία έχασαν πλέον κατά πολύ όχι μόνο την αξία τους αλλά και την αξιοπιστία τους.

Bitcoin,blockchain,crypto,coin,cryptocurrency

In 2022, serious and multiple events caused the entire crypto-currency bubble to burst unceremoniously. The king of digital currencies, Bitcoin lost more than 2022% of its value in 60.

In addition, it crashed FTX exchange, cryptocurrency bank Celsius also went bankrupt Terra Luna is now a thing of the past. Millions of customers pull them them as they lost billions of euros.

BlockFi, another major crypto exchange, filed for bankruptcy a few weeks ago. Other crypto entities, including major lenders such as Global Trading, they are just trying to stay afloat and avoid their own bankruptcies.

Η it is not due to sudden investor indifference. Bitcoin and all other cryptocurrencies were mainly affected by the fact that more and more central banks were forced to take full action against the escalating inflation, most notably the US Fed.

bitcoin

2022 was one of the worst years for the entire financial system. According to Bloomberg, US stocks ended 2022 as the worst year in more than a decade for global stocks and bonds.

It was not only στην Ουκρανία και η ενεργειακή κρίση. Σημάδια της κακή χρονιάς υπήρχαν από το 2021 όταν το τέταρτο τρίμηνο του 2021, ο πρόεδρος της Fed Τζερόμ Πάουελ, είχε ανακοινώσει ότι η εποχή του φθηνού χρήματος θα τελειώσει σύντομα. Και μόνο που το σκέφτηκε αυτό ο Πάουελ, έκανε τις χρηματοπιστωτικές αγορές να παγώσουν.

On the other hand, there are voices within the cryptocurrency system that believe that Bitcoin will reach $100.000, but without specifying when this will happen. The most grounded they are talking about 2023 for an exchange rate between 10.000 and 28.000 dollars.

One thing is for sure. THE of Bitcoin is extremely difficult to predict and is even more susceptible to its factors than more established asset classes. After all, cryptocurrencies are nothing more than a dream, a different concept of an investment opportunity and a new way of looking at money.

They were established as "democratic" currencies to be managed and owned only by its users. The state or banks will not be able to control them and thus they would delineate an independent, unbound society.

The result was that thousands of illegal transactions pass through Bitcoin and other digital currencies, not that legitimate banks do not provide corresponding opportunities for hidden of normal money. But with Bitcoin even the most unhinged can handle transactions without the risk of the police or the IRS hanging over their heads.

Cryptocurrencies will not cease to exist. Whether for illicit use, or for the romantics of a revolutionary society, they will now always be here to meet specific needs, but they will never replace regular money. The nature of capitalism does not change with cryptocurrencies.

And because regular money is based on the production of goods and their circulation, it will always be the regulator. The markets based on this will first of all take care of their system and if they see the opportunity they will give space to Bitcoin for another bubble that will enrich the smart and impoverish the naive.

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Bitcoin,blockchain,crypto,coin,cryptocurrency

Written by Dimitris

Dimitris hates on Mondays .....

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