Cryptocurrency Devaluation in 2022

In 2021 cryptocurrencies reached their peak, so it is very unlikely that you have not heard of them. Undoubtedly the most famous is Bitcoin, which began in late 2008, but only became popular a few years later.

As a proposal for decentralizing income and escaping from the big banks, BitCoin was extremely successful in its proposal, thus, just over 10 years after its official launch, it became the father of all digital currencies.

Although to this day it is not known for sure who created the coin, apparently its creator preferred to remain anonymous, protected only by a codename of “Satoshi Nakamoto”, so his true identity is still a mystery to this day.

In any case, there is no doubt that it is an absolute success and served as the basis for an entire financial market to be inspired by its security and distribution through mining.

The current scenario is scary

In one way or another, Bitcoin influences practically all the currencies current on the market today. But like every world currency, and all financial markets, the Crypto market also has its ups and downs, so they are all subject to changes in value.

But what happens when a currency like Bitcoin loses value? Just as the US dollar governs the course of the traditional world financial market, it can be said that Bitcoin commands the winds of the crypto market, but unlike the dollar, crypto still does not have decades of consolidation and world confidence, due to the variation in value. assigned currency can change a lot and in a very short time.

The currencies had very drastic drops

The crypto, which once hit $66K, took a drastic fall and was worth around $19K, which is less than a third of its peak value. Today the coin is traded for around $23K. This one that is a giant of the market in its fall took several coins to 0 and many others to almost irretrievable drops, as well as the famous Luna, which had a 99.98% drop in a few days, going from $83 to $0, 33 in less than a week.

But this is just an example, other currencies lost a lot of value with their fall, but they did not reach such drastic levels. past. Despite all the difficulties encountered during this period, cryptocurrencies in general are a profitable investment and work very well for their purpose, it is up to each one to take the risk and invest wisely in these assets, and always of course, with the help of a specialist in the field.