Potential drop in Bitcoin price in the Crypto Winter 2022
Navigasi - Throughout June 2022, the price of bitcoin and other crypto assets has decreased and indicates a crypto winter. So what is crypto winter?
|Potential drop in Bitcoin price in the Crypto Winter 2022|
According to various sources, the crypto winter is a prolonged period when crypto prices fall. This period also resulted in decreased enthusiasm for the industry.
As an illustration, data on Coin Market Cap says the price of bitcoin, as a crypto currency, fell 3%. Currently the price is in the range of USD 28,299 or the lowest since December 2020.
Then Etherum also experienced worse market turmoil by falling 9% to the level of USD 1,516. Other cryptocurrencies BNB and Cardano were down 7% each. These signs further reassure observers that a crypto winter is in sight.
Previously, the phenomenon of the collapse of crypto assets also occurred in 2018. Asset prices plummeted and then stagnated until April 2019. At that time, thousands of digital currency workers were laid off or laid off.
Yahoo Finance says bitcoin has lost 55 percent since hitting an all-time high of $69,000 in November 2021. Retail, institutional and even corporate investors lost more than $60 billion in LUNA and UST as the 7th and 10th largest tokens. based on market capitalization evaporates in a matter of days.
There are several comparisons between the crypto winter that happened in 2018 and the prediction of the crypto winter in the last six months. If there really was a crypto winter it would look different this year. Some of the influencing factors are the Covid-19 pandemic, the Russia-Ukraine war, as well as the highest inflation in several countries in the world in the last 40 years.
The climate of the crypto industry is also very different between today and four years ago. In 2017 the new crypto tried to expand with an immature market system.
But now, crypto has found its market. Start-ups or start-ups also use crypto as a funding mechanism.
Even the number of start-ups using crypto as an asset continues to grow. This year, many countries are optimistic about recovering the economy after the pandemic subsides.