Skip to content

Cryptographic Asset

Menu
  • NFTs
  • Trading
  • DeFi
Menu

The State Of Crypto 2022

Posted on December 20, 2022December 20, 2022 by Justin

As the chaotic, volatile, financially violent year of 2022 draws to a close, we examine the state of the game in Bitcoin. Bitcoin markets have been quiet in recent weeks, perhaps owing to the holidays. 

Bitcoin (BTC) hit a record high of more than $68,000 in November of 2021. It started 2022 at a little less than $30,000. The cryptocurrency sector in general had grown to an overall market capitalization of over $2 trillion before a wintry 2022. Investor interest in cryptocurrencies is evident, with bitcoin (BTC) and ether (ETH) both reaching record highs.

Meanwhile, decentralized finance (DeFi) protocols have been relatively quiet this year on the cusp of collapsing markets. The market for non-fungible tokens (NFTs) grew exponentially as venture capital firms invested in a number of cryptocurrencies before the onset of crypto winter. As the cryptocurrency industry has evolved, Bitcoin’s market share has declined, while other digital currencies such as Ethereum have played larger roles.

As far as institutional investors’ adoption of cryptocurrencies is concerned, Bitcoin remains the more viable choice because of the Bitcoin’s market capitalization and comparatively lower volatility. Bitcoin has a far longer track record than other cryptocurrencies, although still relatively young when compared with the 200+ year history of U.S. equities. Launched in 2009, Bitcoin has been around for a very long time (in cryptocurrency terms) and is the most recognized digital currency.

Bitcoin Price on December 20

Bitcoin has been considered as one of the best crypto investments in the long run for years, thanks to the status that Bitcoin has in the marketplace of being the first-mover. 

The vast majority of brokerages and crypto exchanges will now let users invest in Bitcoin. Many also offer derivatives markets. Additionally, with more platforms making space for bitcoin trading, the market is expected to grow among individual traders and investors.

Increased interest by institutional investors, as hedge funds and other financial services providers begin offering options to trade bitcoin, may also boost demand. Cryptocurrency prices are experiencing significant stress from early 2022, as investors are shifting away from riskier assets such as tech stocks.

As crypto is still widely seen as a high-risk, speculative investment, this shift has sent bitcoin’s price plummeting as low as around $17,000 as of mid-December. This represents a loss of almost half the value that bitcoin reached at its November 2021 peak of $69,000, although it has seen a slight rally as of late March 2022, at around $47,345. Due to continue, our 2022 bitcoin price prediction for 2022 saw bitcoin returning to a $32,000 level before the end of the year in 2023.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest

  • The Story Behind The Meltdown At Genesis, Gemini, And DCG
  • Lockdowns Were Good For Crypto
  • The State Of Crypto 2022
  • Michael Saylor Wants The SEC To Shut Down “Pretty Much All” Cryptocurrencies
  • NBA Star Shaquille O’Neal Distances Himself From FTX, Crypto

Archives

  • March 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • January 2022

Categories

  • 41R
  • Africa
  • Akon
  • AMM
  • Auditing
  • Banking
  • Barry Silbert
  • Binance
  • Blockchain
  • Crypto
  • DCG
  • DeFi
  • Donald Trump
  • Exchanges
  • Fintech
  • FTX
  • Gemini
  • Genesis
  • Japan
  • MiamiCoin
  • Michael Saylor
  • News
  • Nexus
  • NFT
  • Opinion
  • Regulations
  • Self-Custody
  • Stablecoin
  • Starbucks
  • Trading
  • Uncategorized
  • Winklevii
  • XRP
© 2023 Cryptographic Asset | Powered by Minimalist Blog WordPress Theme