Bitcoin has been the world's most popular cryptocurrency many years now.And,while crypto has been incredible hikes in the past.2022 was an undoubtedly disastrous years for this asset,which faced an overall price drop of over 60%. So why did bitcoin price fall drastically throughout 2022?
It's has been rough year for crypto and Bitcoin has often been at the forefront of the battering. Will things improve in 2023??
Bitcoin is a volatile digital currency that can go through major ups and downs at any time. But when we see the price drastically reduced investors get worried. These ups and downs of Bitcoin are always due to some positive and negative news of the current market and the condition of the world. Rumors of upcoming US government measures to regulate digital assets, The Federal Reserve attitude of digital currency greatly reduce the bitcoin price. Bitcoin prices may be related to other asset prices as we have seen. The recent FTX bankruptcy has replaced the Bitcoin market in a long bearish streak. In my perspective, until the overall global political situation improves, Bitcoin price will not be improved.