The entire crypto market showed no signs of movement as the year ended.
Bitcoin continued its period of low volatility till the last minute of 2022, with traders and investors hoping for signs of movement until the last moment. BTC seemed to have carried forward its low volatility through Christmas and New Year’s Eve, offering little for debate in the last few days of 2022. The year ended on a bittersweet note for the crypto industry, with a few incidents which dented the industry forever but with wisdom that would steer the industry to highs in the future.
2022 ended up being a highly uncertain year for the planet. Economies got the full force of the uncertainty, with sensitive geopolitical situations, high energy prices, and increasing inflation. With central bankers rushing to douse the fire with hawkish stances, the markets felt the brunt. The crypto markets witnessed billions of losses, with BTC losing 60% year to date. The crypto industry also went through some personal bumps, with major crypto projects going bust, a prominent exchange filing for bankruptcy, and crypto investors losing personal money in the process.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $16500 on January 1, 2023, with BTC/USD down by 0.13% in the last 24 hours. BTC/USD is trading below its 20-day EMA (16,967.14), with most altcoins trading flat or in red. At the onset of 2023, some positive analyses by crypto experts made the entire industry hope for crypto to come out stronger in 2023. A silent revolution is underway regarding exciting new projects in the crypto space, but only time will reveal their relevance.