Despite the fact that in 2022 many large assets did not lose much of their value in percentage terms (Bitcoin, for example, lost 75% of its past ath), in some aspects this bearish cycle has set its own anti-records.
For example, this year, a record number of employees involved in various crypto companies were laid off. More than 10,000 employees lost their jobs in a year:
The influx of money into the crypto industry has become lower than in the last bearish cycle of 2018-2019:
The capitulation of miners is getting faster:
For example, this year, a record number of employees involved in various crypto companies were laid off. More than 10,000 employees lost their jobs in a year:
The influx of money into the crypto industry has become lower than in the last bearish cycle of 2018-2019:
The capitulation of miners is getting faster:
If I'm not mistaken this is like a term in economics, namely a bubble that bursts, where in 2021 there is a very significant increase in customers which makes the exchange need a lot of employees to serve its customers and that is a bubble, and when the bubble grows and continues to grow, like on crypto exchanges 2021 and made developers have to increase their employees and finally the "bubble burst" in May and November, so the company had to lay off some of its employees to minimize expenses because the user drop was massive.
yes, this is a normal thing in the economic world, but nowadays not only crypto exchanges but companies/startups like Amazon, Meta, Netflix, Twitter and others are doing the same to streamline their spending, meaning there will be a lot of unemployment in the new year 2023 .
However, there are also companies/startups that take advantage of this moment to lay off employees on the grounds of recession or economic shocks and other things, even though the company is doing well.