2022 was a disastrous year for the crypto sector and everyone affiliated with it in any way. Naturally, many people will consider the price of cryptocurrencies while considering why something may have been negative for it. One of the most significant aspects of cryptocurrency is its tremendous volatility, with its value fluctuating dramatically.
BTC and ETH fell by more than 50% from their all-time highs reached in the last months of 2021. About $2T in worth has been lost between the peak of that tremendous rise and now. With that in mind, it’s easy to see why 2022 was a catastrophic year for the crypto sector. It didn’t help that Bitcoin had its worst quarter in 10 years.
With the upheavals of cryptocurrency and the industry this year, many are wondering if next year will see cryptocurrency’s peak popularity and glory days.
The Current State of Bitcoin
Bitcoin holders are full of hope, with the typical crypto holder anticipating the coin to reach levels of more than $38,000 by the start of 2023. Holders are now more enthusiastic than the broader public about the potential price values. Many regularly believe that it will be greater than the expected value.
Indeed, the topic of crypto continues to develop with each passing year as more people accept it and its role in the world, which is why 2023 might potentially be a strong year for it. More and more people are learning more about how it works and what it does, and it could influence the price of Bitcoin and other virtual assets in the coming year, sparking an interest that others may have ignored. 2022 was almost a disaster for cryptocurrencies, with prices falling by over 50% for many.
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