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2022 has been a banner year for crypto

And possibly one of the most brutal, chaotic, and volatile years.

This year has seen BTC and ETH experience -75% drawdowns off the all-time-high set in November. Bitcoin fell from an ATH of over 68,000 USD in November 2021 to $16,000 in 2022.

This year has seen a series of big digital-asset collapses. After the implosion of Terra, major crypto players fell like dominos: the bankruptcy filing of Three Arrows Capital, Voyager Digital, Celsius Network, BlockFi, and the spectacular downfall of FTX empire.

Now the market is full of FUD, and contagion floating around.

But every cloud has a silver lining

It’s important to note that neither the crypto slumps nor bankruptcies were caused by the failure of underlying blockchain technology.

This year the long-term holder supply of Bitcoin has climbed to yet another all-time high. With many of the speculators gone, long-term investors are stepping in with increasing coin volume on each price leg down.

This year many blockchains have undergone monumental technical developments. Ethereum merge was executed successfully, with a transition from a proof-of-work blockchain to a proof-of-stake blockchain.

This year the use cases for blockchain technology are continuing to grow. Blockchain is no longer only relevant to cryptocurrency, but also provides support for many other scenarios that require decentralization.

So, what’s next for 2023?

No one can predict if 2023 would be a better year for crypto. But we can definitely learn from the past year and bring out the best of the crypto market.

All crypto players, from retail to institutional investors, from fledgling initiatives to established businesses, should view 2022 as a turning point for the industry. Be aware of the continuing pressure from macro market and crypto industry. Watch out on the scrutiny, regulations and legal frameworks. Review your crypto portfolios and investment thesis. And most importantly, secure your ownership of assets. Stay safe.

After all the dust settled, one can be quite certain that crypto will rebound even stronger.

There will be something to look forward to in 2023.

Airdrop Crypto
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