The year 2022 turned out to be extremely rough for Bitcoin and Ethereum.
11 Jan 2023, 14:27
The year 2022 turned out to be extremely rough for Bitcoin and Ethereum.😒
Both currencies slumped by over 60 percent from their highs achieved a year ago. 😱 Other tokens like Dogecoin, Avalanche, and Solana also plunged heavily.
In November 2022, the crypto market got the biggest jolt when FTX exchange announced bankruptcy and Samuel Bankman-Fried resigned from his position as CEO of FTX.
With chaos all around, the question on everybody's lips is: what will 2023 be for the crypto market? Will crypto survive? "🤯 The current situation is a mixture of concern and uncertainty with the future of crypto.
According to experts, the true contagion effects of the FTX fiasco will continue to unravel in the next few months "Overall, during 2023 crypto markets should trade sideways, with a downward bias due to the latest setback on institutional trust in the system.
However, fundamentally strong cryptos are here to stay and will continue to grow in the future.
What do you think about crypto in 2023?👇🏻