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News Regarding Crypto currency
Now the calendar year 2022 comes to an end soon, and this year is not good at all for the investors in the crypto market. All the major crypto-currencies fell on the majority of days. Bitcoin has given a negative return of around 62% this year from January 1st to the present and may continue this bearish rally over the next 3-4 days. On January 1, 2022, an investor who invests $100,000 in Bitcoin will have only $38k.There was a hype about the crypto market in 2021, which was debunked.
This year's crypto performance is very bearish. All the major crypto currencies have given negative returns: Ethereum fell around 65%, Cardano fell around 80%, Dogecoin fell around 53%, and this list continues. As many countries have banned the crypto market, according to recent data, there are nine countries -- China, Qatar, Tunisia, Egypt, Iraq, Morocco, Algeria, Bangladesh, and Nepal -- that have completely banned crypto-currencies. Some countries take strict actions against crypto investors, while others levied heavy taxes on crypto earnings and even losses.
What will be the next year's performance expectations for the crypto market?
The crypto market may perform negatively next year as well, as there is no existence of physical worth for those currencies, like the physical appearance of the companies listed on the stock market and regulated by the Securities Exchange in almost every country to protect investors' rights. We are not seeing this with crypto-currencies. There is no fundamental for crypto currencies, so you cannot find the intrinsic value of crypto currencies in the same way that companies listed on stock exchanges as they file their quarterly business performance to the exchanges publicly.
Hope for the New Year 2023
The United States is the biggest hub of the crypto market, and we hope that there will be some positive news in the crypto market and that the government will make rules and regulations for free and fair operations of crypto trading to protect investors' rights. Then we can look forward to the year 2023 as a new beginning for the crypto market.
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