As of now it is proved that year 2022 has not been kind to crypto buyers.
According to Coinmarketcap, crypto’s total market capitalization dropped by more than half (-56%) in the second quarter.
Crypto currency total market capitalization is only up 7% since July this year.
Senior market analyst Thomas Dunleavy said that Crypto may have hit the ultimate bottom months ago because of cascading liquidations.
With the rise of interest rates by central banks, crypto de-utilized in a big way starting in May.
Collapse almost $40 billion Terra ecosystem followed by the hedge fund.
Major crypto executives has been resigned and left their position.
Farrell said, a crypto rally is certainly no guarantee, but it's always a good leading indicator.
Year-to-date, bitcoin and other digital currencies stay some of greatest failures among risk resources, seeing drawdowns 60% for bitcoin and as high as 84% for other coins.