• 2022 was a bear market for Bitcoin (BTC) and Ether (ETH), with a 65% and 67% pullback, respectively.
• CoinDesk Research Associate George Kaloudis discussed the year-in-review for the crypto industry, including the significance of the Ethereum Merge and crypto regulations in 2022.
• The correlation between macro assets and Bitcoin remains an unfinished story.
2022 was a bear market for the crypto industry, with Bitcoin (BTC) and Ether (ETH) suffering a 65% and 67% pullback, respectively. CoinDesk Research Associate George Kaloudis discussed the impact of this performance on the industry and looked back at the events of the year.
The Ethereum Merge was an important development for the Ethereum network, allowing it to expand and scale more effectively. This was a significant step for the network, and has enabled numerous decentralized applications to be built on it.
Crypto regulations were also a major topic in 2022. Regulatory authorities around the world took steps to create a more unified landscape for the industry, aiming to create a safe and secure environment for investors to engage in. While there is still a long way to go in terms of regulation, it is encouraging to see governments taking steps to protect investors and create a level playing field for all.
The correlation between macro assets and Bitcoin remains an unfinished story. While some assets have been correlated with Bitcoin in the past, it is unclear if this will remain consistent in the future. As the crypto industry evolves and matures, it is likely that the correlation between macro assets and crypto will become clearer.
Overall, while 2022 was a bear market for the crypto industry, it was an eventful year with significant developments. The Ethereum Merge, regulatory developments, and correlations with macro assets all had a major impact on the industry. As the industry continues to evolve, it will be interesting to see what the future holds.