It has been quite a stressful year for retail investors in Cryptocurrencies and Bitcoin. In recent months, the value of most popular cryptocurrencies like Bitcoin, Ethereum, and Dogecoin has dropped by at least 55 percent.
Currently, the price of Bitcoin is oscillating around USD 23k, which is 65 percent below its all-time high. The total Market Cap of Crypto has fallen from 3 trillion USD to 1 trillion USD.
Is Cryptocurrency Making A Huge Comeback?
As per the statistics, Bitcoin makes up the ⅔ of the crypto market. Meanwhile, Bitcoin has dropped down to USD 20k in recent days. The Crypto markets and the stock market are facing humongous selling pressure due to inflation and the Russian-Ukrainian war.
The metaverse has seen some heat also since there was a broader sell-off in the crypto industry. A lot of countries are now trying to impose regulations on crypto assets. It is expected that with more regulations, there would be some stability in the cryptocurrency dynamics. Also, it would help to protect the long-term projects and investors.
Some Of The Global Updates
- Recently, the financial stability board announced that they would propose some strong rules for cryptocurrencies later this year. It is important to regulate the crypto markets due to all turmoils happening.
- A lot of people have now begun to stack Bitcoin again. Recent messages from several indicators tracking websites indicate that the miners majorly sell the bitcoin.
- Binance is one of the largest cryptocurrency exchanges that has recently attempted to prevent any money laundering on its platform. It does not follow any extreme rules that its rival follows.
- A lot of focus has been put on clean Energy Bitcoin. There is a firm, Gryphon digital, trying to bring more efficiency to operations.
- Celsius Network, one of the protocols, has not yet enabled withdrawal for its users, as they have collapsed. Also, there is a debt of USD 95 Million on the Compound and Aave protocol.
- Crypto trading website, CoinFlex has begun recovering approximately USD 84 Million in debt. There is a large individual customer who has taken a major loan. The recovery would happen under the broader revival strategy.
Future Of Cryptocurrencies And Digital Assets
With Regulation announcements, the price would be affected as cryptocurrency markets are already quite volatile. Many market experts have recommended keeping the 5% of their portfolio as cryptocurrency investments because markets are too volatile. There are millions of cryptocurrencies now for investment. Hence an investor should choose their crypto investment portfolio wisely and invest only what they can afford to lose.
Will Crypto Rise Again?
Many traders and investors are asking this one of the major questions. It has been quite a few months since the cryptocurrency market crashed to some new lows in 2022. The price of Terra Luna UST has become almost zero in the current bear market. Different crypto influencers have given their views, believing that though market sentiments have disturbed soon, the market will rise again, and we will see most crypto in green.