Was 2022 All Bad For The Crypto Community
There is a saying in every disappointment count your blessings. Was 2022 all bad for the crypto space, admit the tanking of all crypto assets from the second quarter of the year and several negative activities that had a negative impact on the market prices.
From the second quarter which we all witnessed the fall in prices of digital assets to the collapse of several crypto inclined institutional bodies, projects and exchanges we still managed to witnessed some positive energy around all these as serval brands are gradually embracing Non Fungible Tokens(NFT’s) such brands are Meta, Adidas, Nike, Starbucks to mention a few. And also game developers / creators are also embracing blockchain technology.
In this these same year we also witnessed the long awaiting Ethereum merge which Ethereum has moved from a proof of work(POW) to a proof of stake (POS) mechanism after several delays. With this merger it’s predicted that it will put the second largest crypto asset in a better position for investors and it being environmental friendly. I have totally not come to a full understanding yet on how this move is going to play an influential role on the price, but we are optimistic to see how it’s going to pen out.
On the legislative side, a spark of positivity as regards acceptance and adoption is seen in several rules that is being ruled out from the likes of President Biden and the European Parliament. Well we look forward to a productive year for the crypto sector and it’s adoption.
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It depends on how you see things happened in 2022.
In my opinion, it's the correction of the market to eliminate something has been gone wrong for a while. And it's better that happened in 2022 than later.
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