2022 was a year to be remembered in history by investors and traders. In the past 14 years, it was a disastrous year for the global economies.
So the year 2022 has finally finished shrinking major economies and affecting global stock markets for an uncertain amount of time. This year will be remembered by financial institutions and investors, as it was the worst year for crypto and stock markets after 2008. From the downfall of Terra (Luna) to FTX getting bankrupt, Fed raising interest rates, inflation at 40 years peak, energy and food crises etc.
The major stock markets such as S&P 500, Dow Jones, Nasdaq, FTSE 100, STOXX 50 and many others etc closed the year with a loss ranging from 15% - 25%. The shares of major US Tech companies were in loss ranging from 20% - 70%. A total of $18T was wiped out from the global stock markets, while it was around $8T from the US markets. If we talk about crypto, the global market capitalization was about $3T in Nov 2021, which started to see a major downfall after Terra, 3AC, Voyager, Celsius and finally FTX Collapse.
At the current time, The global crypto market capitalization has shrinked under $800 Billion. But the miners and investors are still optimistic about the future of cryptocurrencies, as we have seen major adoption globally. Even Brazil and El Salvador have officially recognized Bitcoin. The excitement and hope could be seen from the hash rate. Bitcoin's hashrate is gradually rising as more miners are interested to secure its Proof of Work (PoW) network.
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