Bitcoin ends in 2022 with an annual decline of 65 %: weekend observation
Bitcoin ends in 2022 with an annual decline of 65 %: weekend observation
The year 2022 is coming to an end, and the Bitcoin bulls are in a hurry to send this rather violent year home. The price of the asset crashed in the middle of macroeconomic hurdles, industry congresses and fraudsters and everything in between.
The microscala also does not give much hope, since BTC yesterday has slipped to a new 10-day low of well below $ 16,500.
The nightmare year of Bitcoin comes to an end
After the massive bull market of 2021, in which Bitcoin exploded to an all -time high of $ 69,000, all eyes had been directed to the asset in order to double and always reach new highs. Remember that many expected that the milestone of $ 100,000 would come next, hence the countless laser eye profile pictures on Twitter.
The cryptocurrency entered almost $ 50,000 in 2022, but only a few could have predicted what would happen next. The beginning of a "military special surgery" (aka war) in the middle of Europe was only more fuel that was thrown into the huge fire that became a global galloping inflation.
crypto had numerous internal blows that started with the sudden collapse of the Terra ecosystem. This revealed the strongly intertwined nature of the industry. The domino effect has brought other former giants such as 3ac, Celsius, Voyager and others.
The price of BTC fell in the middle of all of this. When it seemed to have finally calmed down in November, the FTX debacle that was even more suddenly came. Another hit for Bitcoin, which has now fallen on successive two -year lows.
Despite the experiment, BTC remained well below the coveted $ 20,000 mark. The last few weeks have been quite uneventful in terms of the price movement, since the asset continues to fight for $ 16,500. This means that Bitcoin will close the annual candle with a decline of 65 %, unless a miracle will happen in the next few hours.
Therefore, its market capitalization is still less than $ 320 billion, while its dominance over the altons is calm with 40.1 %.
BTCUSD. Tradingview
Solana recovers by 8 %
The alternative coins also suffered greatly in 2022, but we will now focus on their latest price movements. Solana was one of the worst affected due to his commitment to Alameda and FTX. The past week brought a price decline of 25 %, but Sol has recovered by 8 % and is acted just at $ 10.
Most of the market is also green, with minor attempts to relax. ETH is still below $ 1,200, even with a daily increase of 0.5 %. Binance Coin, Ripplecardano, Dogecoin, Polygon, Polkadot, Tron and Litecoin have increased by up to 2 %.
OKB is one of the best performers with a daily increase of 4 %. As a result, OKX native coin is traded at $ 26. The entire crypto market capitalization is almost $ 800 billion.
Overview of the cryptocurrency market. Quantify crypto