After a Chaotic Year for Crypto, Here’s Where Experts Say Bitcoin’s Price Is Headed Next
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It's been a challenging year for crypto investors.
There was the recent implosion of FTX, an exchange previously thought of as relatively trustworthy and run by one of the most prominent figures in the crypto industry. Earlier in 2022, there was the bankruptcy of crypto lender Voyager and the collapse of TerraUSD, a "stablecoin." (A stablecoin is a cryptocurrency with a price pegged to another asset like the U.S. dollar).
In addition to an erosion of trust in crypto, there have been price losses mirroring the stock market's amid high inflation and interest rate hikes.
Bitcoin was trading at $16,607 on Thursday — down 65% from the beginning of the year. It’s no wonder that roughly half of bitcoin investors would lose money if they sold now, according to data from analytics firm IntoTheBlock.
