The year 2022 has been so bad for cryptocurrencies that a situation that hasn’t happened for 4 years has occurred again. Bitcoin (BTC)Losing 70% in value in just 1 year, it had the worst performance in recent years.
Although there were decreases in the gold and stock markets, the loss of BTC was much heavier. Bitcoin outperformed ounces of gold and stocks for the first time since 2018.
According to Coinglass data, the 9-year performance of the leading cryptocurrency is as follows.
in cryptocurrencies There are 2 main reasons for the ongoing bear market:
- Changing monetary policies: High inflation in the world, especially in the USA, caused central banks to implement tighter monetary policies. Rising interest rates have dampened interest in cryptocurrencies as guaranteed returns have increased.
- Bankrupt companies: The scarcity of the dollar due to rising interest rates and some scandals caused the collapse of crypto startups. Industry giants such as Terra Labs, Celsius, 3AC Capital and FTX have disappeared from the market this year.
Meta and Tesla Shares Moved With Bitcoin
2 giants close to high technology and crypto money industry Meta and Tesla It moved along with Bitcoin over the years. The annual loss in the stocks of both companies was 70%, similar to BTC.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!