It has been 13 years since Satoshi Nakamoto shook up the financial world by introducing Bitcoin. Since then, hundreds, if not more, have followed in an attempt to bring the “next big cryptocurrency” to the table. Some have had success, and some have failed miserably.
In either case, 2022 presented a mixed bag of a year when it comes to cryptocurrency. Even the successful cryptos took a massive dive, in large part due to political upheavals and economic troubles. However, a lot of good came out of cryptocurrencies as well. So, let us look and see if 2022 could be called an overall good year for cryptocurrency?
The Good
There was quite a bit of good that came out of cryptocurrency in 2022. First and foremost, as always cryptocurrency is a great tool for charity. And 2022 saw folks use different forms of cryptocurrency to send help and relief to the people in need around the world.
A lot of Ukrainians received funds in the form of cryptocurrency. This is a great way to support a cause, while simultaneously staying safe, as crypto transfers are completely untraceable. The same can be said for countries in need all around the world.
More than that, residents of Asia made quite a bit of money from cryptocurrency, if the statistics are anything to go by. So, for them, it certainly has been a good year. And the same can be said for plenty of residents of the European Union.
Quite a few crypto casinos opened their doors to great success as well. Not only that, but many established online casinos began accepting cryptocurrency as a viable method for deposit. If you are interested, Blitkingz is a crypto-friendly casino, that also features everyone’s favorite gambling games.
However, the year was not all that great. Quite a few cryptos took a dive, and many traders lost a lot of assets. So, in this next section, we are looking at the bad that 2022 brought to the industry.
The Bad
We are not going to lie. This past year was one of the worst that crypto has seen since its creation. The market had more bearish periods than ever, even prompting many to believe that it was on the edge of collapse. After all, at the tail end of 2021, Bitcoin was being traded for $68.000. And now, it is down to $21.000. So, we can’t blame anyone who is jumping ship. However, it is worth noting that, experts seem to think 2023 will be a great improvement.
In fact, many crypto traders might be thankful to know that the crypto market is already stabilizing. A lot of people believe that 2023 will be a good year. Perhaps not great, but certainly good. The political and economic troubles that brought the crypto collapse about are seemingly closer to being resolved, which can only be a good thing, both for the world of crypto, and the world in general.