What happened to crypto in 2022?

Bitcoin prices dropped nearly 65% in 2022, its worst annual performance since its 73% decline in 2018. Ethereum prices dropped 67.7% in 2022. Rising interest rates triggered crypto winter in 2022, producing a wave of bankruptcies in the crypto industry and sending the prices of most popular cryptocurrencies tumbling.

How much is the cryptocurrency market worth in 2022?

As of the end of 2022, that market cap now stands at just $798 billion. The chaos in the cryptocurrency market came to a climax in November when crypto exchange FTX, which was once worth $32 billion, officially filed for bankruptcy protection.

What's ahead for crypto investors in 2023?

Looking ahead to 2023, crypto industry experts expect more difficulties ahead for investors as rising interest rates continue to weigh on risk asset prices. Deposit $100 and get a $10 bonus! (US Only) FTX’s bankruptcy sent Bitcoin tumbling to new two-year lows under $15,600 in November, but Bitcoin prices stabilized in December.

What will the crypto asset market look like in 2021?

But the overall crypto asset market will also grow. Since the beginning of 2021, the USD prices of the largest 20 cryptocurrencies listed on CoinMarketCap by market cap have increased by triple digits.