The cascade gif is impressive, I would still not tie every news story directly and precisely to price not of BTC anyway. Some of the BTC sales will occur no matter what just from a lack of momentum, some holders are only interested when the price goes up so reversing that leads to an opposite tidal flow in price just the same as we gain that way too.
Also the idea people lost capital is only true if they are required to later pay Dollars for certain, if people dont borrow dollars they do no owe that balance and can keep Bitcoin as long as they like. Of course I understand the idea people want to sell at some point but BTC by itself has never had a yield and people knew this when buying it; there was no change in this situation or loss as such in BTC.
The market price does not determine value only a reflection of demand vs supply on those order books it is some estimation and utility in providing an agreed market for those who must sell in 2022 of course it has a use but its not an absolute determination of success imo
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The Ronin attack was indeed huge. The damage was at least $600 million, but I don't think it started a contagion in the market. It didn't cause a domino effect. It was more of a niche-based damage, although it's not even the cause of play-to-earn NFT games losing popularity. Axie Infinity, of course, as well as Ronin itself were severely affected. But, again, it didn't really wreak havoc in the larger crypto industry.
Terra's collapse, however, sent big ripples across the crypto industry. To a certain extent, it contributed to the fate of Celsius, 3AC, Voyager, and others. It was a popular project. It was very quick to rise and even reached the top 10. Promoted by popular influencers, the likes of crypto billionaires Novogratz and CZ, it quickly attracted massive retail and institutional support. Its collapse, therefore, was huge.
However, I agree that as far as the effects on regulators are concerned, it might indeed be SBF's FTX that immediately caused it. But sometimes I wonder how much of what the regulators and even congress itself are doing now would have been done had FTX not been owned by this altruistic gentleman, Mister Sam Bankman-Fried.
I think if you look at the prices, FTX happened when bitcoin was around 20k already, we already bottomed at around 17.5k or so back then, and we did had some recovery back to over 20k and then dropped to 16k or so, but that's still when we were at the bottom.Terra's collapse, however, sent big ripples across the crypto industry. To a certain extent, it contributed to the fate of Celsius, 3AC, Voyager, and others. It was a popular project. It was very quick to rise and even reached the top 10. Promoted by popular influencers, the likes of crypto billionaires Novogratz and CZ, it quickly attracted massive retail and institutional support. Its collapse, therefore, was huge.
However, I agree that as far as the effects on regulators are concerned, it might indeed be SBF's FTX that immediately caused it. But sometimes I wonder how much of what the regulators and even congress itself are doing now would have been done had FTX not been owned by this altruistic gentleman, Mister Sam Bankman-Fried.
However, we could consider Luna as a big drop, it was a lot higher when it happened and crashed the price hard, so I would understand the logic there but it happened in spring of 2022, not October 2021. During November of 2021 we started out fall and been in bear market since then, whatever happened there is the main reason for the bear market to start, and I don't know what it was, but I know that was the date.
If we take a look at the entire year, it appears that it wasn't really FTX that started the whole contagion. It was probably Terra. Although a correction was kind of expected after the November 2021 ATH, the price was only rising and falling, going beyond and below $40,000. That probably wasn't the bottom yet even though it was already at least 30% down from the ATH, but when Terra collapsed, the price went swirling down and it almost never saw $30,000 again.
Terra was the first domino to fall. The rest followed. The price slid down freely all the way below $20,000. That was a huge fall, and something really big to recover from. 2023 is certainly not enough. It might take 2024 to see things fully recovering.
Terra was the first domino to fall. The rest followed. The price slid down freely all the way below $20,000. That was a huge fall, and something really big to recover from. 2023 is certainly not enough. It might take 2024 to see things fully recovering.
In my opinion, a bear market naturally follows an impressive bull market.
Vitalik Buterin, the main developer of the second largest cryptocurrency by capitalization, in his interview noted that the previous cryptocurrency bull market was very long in time. From this we can conclude that the bear market that followed the bull market will also be long in time....
In my opinion, it doesn't matter which hype project failed first. All of these projects were potentially at risk. Their founders had no experience in developing their projects in a bear market, with minimal activity of traders and investors.
As for the recovery of the cryptocurrency market, it is possible that it will fully recover no earlier than 2026.
Yeah, just a reminder how volatile crypto market is, although we haven't had a big crash like the Mt. Gox years ago, but still there are black swan events that are comparable to it. Specially the collapse of FTX that really put the market at the edge again.
And not only this kind of events, but they are a couple of FUDs around that will somewhat affect us.
In any case, those who remained in the market would need a lot of patience and think for the long term and then take advantage to buy when the price goes down hard because of this events.
And not only this kind of events, but they are a couple of FUDs around that will somewhat affect us.
In any case, those who remained in the market would need a lot of patience and think for the long term and then take advantage to buy when the price goes down hard because of this events.
Agree. The volatile market is a test for all inside players. Despite all dreadful events in 2022, the long term investors still remain and survive. I hope all these disappointments act as a high fever, our immune system reacts vigorously and our body ( crypto market) will soon recover. Look forward to a wonderful year of 2023.
Terrifying numbers but let us keep the spirit on for the year 2023 guys. They are the big investors, those who failed all the way down to zero were not in the business, they were in the money making race and that's why they failed themselves. I think with the current status of crypto at least bitcoin is fairly good because it still has greater value than any other asset despite the various collapses around crypto universe. What's happen is happen in the year 2022, I think it is time to see the futuristic goals that would happen in the year 2023. I am hoping that we will have stringent roller coaster ride one more time but with the down turn there is opportunity for the new rich people to invest into it who might be planning as we speak. These companies will come and go, we just have to ride alongside.
If we take a look at the entire year, it appears that it wasn't really FTX that started the whole contagion. It was probably Terra.
I'm not familiar with the Ronin attack (I'll have to look it up), but it looks like the total market value started to slide shortly after that happened, but it really started to sink after Terra--and I agree, FTX didn't kick off this very bearish market we find ourselves in. Unfortunately, I think SBF's misdeeds are what's going to bring the regulators around (and I know they've already got the microscope focusing in on the whole space), and it's anyone's guess what the outcome is going to be as far as how hard they're going to come down with the law-making.The Ronin attack was indeed huge. The damage was at least $600 million, but I don't think it started a contagion in the market. It didn't cause a domino effect. It was more of a niche-based damage, although it's not even the cause of play-to-earn NFT games losing popularity. Axie Infinity, of course, as well as Ronin itself were severely affected. But, again, it didn't really wreak havoc in the larger crypto industry.
Terra's collapse, however, sent big ripples across the crypto industry. To a certain extent, it contributed to the fate of Celsius, 3AC, Voyager, and others. It was a popular project. It was very quick to rise and even reached the top 10. Promoted by popular influencers, the likes of crypto billionaires Novogratz and CZ, it quickly attracted massive retail and institutional support. Its collapse, therefore, was huge.
However, I agree that as far as the effects on regulators are concerned, it might indeed be SBF's FTX that immediately caused it. But sometimes I wonder how much of what the regulators and even congress itself are doing now would have been done had FTX not been owned by this altruistic gentleman, Mister Sam Bankman-Fried.
If we take a look at the entire year, it appears that it wasn't really FTX that started the whole contagion. It was probably Terra.
I'm not familiar with the Ronin attack (I'll have to look it up), but it looks like the total market value started to slide shortly after that happened, but it really started to sink after Terra--and I agree, FTX didn't kick off this very bearish market we find ourselves in. Unfortunately, I think SBF's misdeeds are what's going to bring the regulators around (and I know they've already got the microscope focusing in on the whole space), and it's anyone's guess what the outcome is going to be as far as how hard they're going to come down with the law-making.Nice infographic, Ratimov. I missed this thread entirely for some reason.
If we take a look at the entire year, it appears that it wasn't really FTX that started the whole contagion. It was probably Terra. Although a correction was kind of expected after the November 2021 ATH, the price was only rising and falling, going beyond and below $40,000. That probably wasn't the bottom yet even though it was already at least 30% down from the ATH, but when Terra collapsed, the price went swirling down and it almost never saw $30,000 again.
Terra was the first domino to fall. The rest followed. The price slid down freely all the way below $20,000. That was a huge fall, and something really big to recover from. 2023 is certainly not enough. It might take 2024 to see things fully recovering.
Terra was the first domino to fall. The rest followed. The price slid down freely all the way below $20,000. That was a huge fall, and something really big to recover from. 2023 is certainly not enough. It might take 2024 to see things fully recovering.
Nothing is accidental and natural, everything is planned in advance. If you pay attention, you can see, every time the bear season comes, big projects fail, causing the market to crash, it's like pre-programmed. 2014 with Mt.gox, 2017 with bitconnect and 2022 with FTX and Luna. Cryptocurrency is a gambling, not a place with new technology as many people think, it is a place where there are winners and losers.
separate the terms of
crypto the industry(businesses at the edges)
vs
cryptocurrency the currencies(plural)
vs
specific currencies of crypto(eg bitcoin)
yes businesses fail by not being business savvi and not knowing the cycles or purposefully ripping off their customers
some cryptocurrencies have no underlying value or market cycles and just pure random speculations
where as some like bitcoin do have underlying value and market cycles and fundamentals
Indeed, there are so many problems going on with crypto in 2022. And those problems are continuing. Stock exchange hacks are happening all the time, and it's something that needs serious attention. I think exchange developers need to pay attention to the level of security. Perhaps the two biggest issues that cost investors big are Terra and FTX. I also left a small amount of assets on the FTX exchange, it is currently inaccessible. What needs to be considered is the cause of bankruptcy, hacking, and so on. Do not let us think this happened naturally or accidentally, or done by other parties outside the exchange. Suspicion is important to protect our assets in the future. Maybe my assumptions are too exaggerated in this regard, but this assumption arises because I personally have experienced it many times. We just need to be careful in storing assets. Losses due to dumps in crypto prices are commonplace, and that's not a problem for me.
Nothing is accidental and natural, everything is planned in advance. If you pay attention, you can see, every time the bear season comes, big projects fail, causing the market to crash, it's like pre-programmed. 2014 with Mt.gox, 2017 with bitconnect and 2022 with FTX and Luna. Cryptocurrency is a gambling, not a place with new technology as many people think, it is a place where there are winners and losers.
i read alot of people calling 2022 bad and negative
trying to find reason why they think crypto 2022 is outside of the norm for its period
i see it as the norm
just looking at the halving cycles end to end.
you see this
2010-2012 2012-2016 2016-2020 2020-2022
yep the green of the 2020-sofar 2022. is right where it should be
we are ~63% through a halving cycles and looking at the charts puts it smack bang in other cycles "low zone" for their periods
trying to find reason why they think crypto 2022 is outside of the norm for its period
i see it as the norm
just looking at the halving cycles end to end.
you see this
2010-2012 2012-2016 2016-2020 2020-2022
yep the green of the 2020-sofar 2022. is right where it should be
we are ~63% through a halving cycles and looking at the charts puts it smack bang in other cycles "low zone" for their periods
Indeed, there are so many problems going on with crypto in 2022. And those problems are continuing. Stock exchange hacks are happening all the time, and it's something that needs serious attention. I think exchange developers need to pay attention to the level of security. Perhaps the two biggest issues that cost investors big are Terra and FTX. I also left a small amount of assets on the FTX exchange, it is currently inaccessible. What needs to be considered is the cause of bankruptcy, hacking, and so on. Do not let us think this happened naturally or accidentally, or done by other parties outside the exchange. Suspicion is important to protect our assets in the future. Maybe my assumptions are too exaggerated in this regard, but this assumption arises because I personally have experienced it many times. We just need to be careful in storing assets. Losses due to dumps in crypto prices are commonplace, and that's not a problem for me.
The series of events that occurred this year (2022) are likely to leave an impression on all those involved in the journey of crypto activities as seen in the OP image.
No exception to the various FUDs that spread like a virus that disrupts concentration, although we are not at all fooled and still believe in Bitcoin's journey until one day it will reach the stage that many investors want.
Maybe at the close of 2022, the price of Bitcoin will still stay in the range of $16k to $17k even a little more above that price. But the journey for 2023 may be different from 2022.
No exception to the various FUDs that spread like a virus that disrupts concentration, although we are not at all fooled and still believe in Bitcoin's journey until one day it will reach the stage that many investors want.
Maybe at the close of 2022, the price of Bitcoin will still stay in the range of $16k to $17k even a little more above that price. But the journey for 2023 may be different from 2022.
Any PR is useful for the crypto industry!
Even negative informational occasions contribute to attracting interest in Bitcoin and other cryptocurrencies.
People read about all these financial disasters and they think - I wanted to buy Bitcoin at $65,000 last year! Now its price has dropped significantly and I can buy it cheaply.
Perhaps as a result of such reasoning, these potential investors will not buy Bitcoin (it is very difficult and scary to invest in the midst of a bear market).
However, in spring their mood will change, good sunny weather will add to their optimism. They will read about Bitcoin again and still make a positive purchase decision.
The series of events that occurred this year (2022) are likely to leave an impression on all those involved in the journey of crypto activities as seen in the OP image.
No exception to the various FUDs that spread like a virus that disrupts concentration, although we are not at all fooled and still believe in Bitcoin's journey until one day it will reach the stage that many investors want.
Maybe at the close of 2022, the price of Bitcoin will still stay in the range of $16k to $17k even a little more above that price. But the journey for 2023 may be different from 2022.
No exception to the various FUDs that spread like a virus that disrupts concentration, although we are not at all fooled and still believe in Bitcoin's journey until one day it will reach the stage that many investors want.
Maybe at the close of 2022, the price of Bitcoin will still stay in the range of $16k to $17k even a little more above that price. But the journey for 2023 may be different from 2022.
The market cap count for all cryptocurrencies is very misleading, the market has grown from 1 trillion to 2.5 from Nothing but because of random Altcoins/tokens that are printed without having value and therefore evaporated quickly, the most important thing is to measure Bitcoin because it is the main controller of all prices.
Some unexpected events, such as FTX and Luna, are what hastened to extinguish the rise and thus achieve a rapid correction, which is different from things like GBTC, TESLA, Musk that that contributed to the rapid increase.
So the Bitcoin market began to change rapidly and gain a stronger position.
Some unexpected events, such as FTX and Luna, are what hastened to extinguish the rise and thus achieve a rapid correction, which is different from things like GBTC, TESLA, Musk that that contributed to the rapid increase.
So the Bitcoin market began to change rapidly and gain a stronger position.
That's a lot of connection for FTX.
It's true that this year has been disappointing because too many people involve having their funds affected as well. But if we'll speak about the market, it's still quite good.
Nevertheless, this year is full of disappointment and surprises because of the events that had occurred. It's certainly a bloody year especially for the new ones.
It's true that this year has been disappointing because too many people involve having their funds affected as well. But if we'll speak about the market, it's still quite good.
Nevertheless, this year is full of disappointment and surprises because of the events that had occurred. It's certainly a bloody year especially for the new ones.
This year marks a very unfortunate sequence of event and thats really hurt a lot of investors. But for surr this isnt the end of cryptomarket and that will change overtime. Many users believed that recovery will happened on 2024 to 2025 and that means that yesr of 2023 is an accumulation period. So better to keep dca until the bull arrives especially the prices now are cheap.
I am not going to wait till bitcoin goes down to 10k because it might still never happen, too many people believe that 10k is the bottom and it will happen in 2023, doing the opposite of what others are doing is the path that works for me, so I plan to build my second crypto bag in early 2023 and I will keep doing this till the next Bitcoin halving. Price predictions are often based on speculation and can be highly uncertain, and it is not uncommon for them to be proven wrong. It is always a good idea to have your own plan and to carefully consider all the risks and potential rewards before making any investment decisions.
Clearly in terms of price, the market seems to think things are looking bleak. What could happen that could spur a recovery? Back above $30k by February! At this point, your guess is as good as anyone else's. With any luck however, it'll be a nice easy upswing. Probably not going to be shorting bitcoin anytime soon though - many things that can go wrong there.
The year 2022 hasn’t been terrible for crypto-Currency but are we being to hard on Crypto-currency? 2022 hasn’t been good for the financial ecosystem, many Currencies saw their worst inflation rate and some lots value up to the extent of being thrown away.
But Crypto-currency is an ecosystem that is volatile and I don’t know which way it may go bearish or bullish but the fact is that I don’t gamble with Altcoin and when I only believe in bitcoin I believe I am safe no matter the market conditions.
But Crypto-currency is an ecosystem that is volatile and I don’t know which way it may go bearish or bullish but the fact is that I don’t gamble with Altcoin and when I only believe in bitcoin I believe I am safe no matter the market conditions.
This year marks a very unfortunate sequence of event and thats really hurt a lot of investors. But for surr this isnt the end of cryptomarket and that will change overtime. Many users believed that recovery will happened on 2024 to 2025 and that means that yesr of 2023 is an accumulation period. So better to keep dca until the bull arrives especially the prices now are cheap.
I am not going to wait till bitcoin goes down to 10k because it might still never happen, too many people believe that 10k is the bottom and it will happen in 2023, doing the opposite of what others are doing is the path that works for me, so I plan to build my second crypto bag in early 2023 and I will keep doing this till the next Bitcoin halving. 
Ftx and luna were both fairly unexpected, but so was Doge the year before and quite a few other value readjustments (both up and down).
Frankly saying the Doge downfall was expected as it was only rising under the influence of Musk as before his interaction with the memcoin it was trading at far low value and he took undue advantage of his position to influence and manipulate people to invest in Dogecoin and then after it crashed hard.The ATH went to $0.73 in 2021 and now it's at $0.078 so as expected people who holds it have lost majority of their funds in it because they were ignorant enough to invest under someone else influence and he has made huge profits out of it.The majority of supply was concentrated in few wallets meaning centralised sort of control and we all know the prices can be manipulated so for me it was expected.I meant the initial rise more than the decline of doge. It's still up about 14x from where it normally used to settle (around 50 sats).
I would've expected it to have completely fallen and it even looks to not being too badly considering it's a potentially insecure meme coin (depending on whether it or litecoin have the highest hash power).
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