2022, the “annus horribilis” of cryptocurrencies

The course of bitcoin, started the year above 40,000 dollars, it will end it below 16,000. LP/WESTOCK – stock.adobe.com

HISTORY – After price collapses and bankruptcies, the sector enters a phase of major restructuring.

In the palette of adjectives that best qualify the year 2022 for the crypto asset sector, the Latin phrase annus horribilis doesn’t seem excessive. While one of the key thermometers in the sector, the price of bitcoin, started the year above $40,000, it will end it below $16,000. That’s a drop of 70%. In total, the total market capitalization of the cryptocurrency market will end the year around $765 billion, almost four times less than at its peak in November 2021.

A very hard landing for a sector that had started in 2022 with the hope of a more massive adoption of crypto-assets, especially by institutional investors. For its early aficionados, bitcoin would also finally be able to demonstrate its ability to hedge against inflation under real-world conditions…

Alas, the increase in interest rates by the US Federal Reserve from May added to the war in Ukraine and the health situation in…

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