Bitcoin Bloody Year 2022 coming to End

[pixie85]

The above shameful scam has completely negative impact on the Bitcoin market in 2022.  We all hope that such incidents do not happen in cryptocurrencies in the coming years.

Some of these events had a negative impact on the price but were good for bitcoin.

All altcoin implosions that somehow impacted bitcoin price when they shouldn't were good in the long run. Take Luna for that matter. It was a scam. It's better that it got wiped out. If we allowed it to continue it would have an even greater impact in a year or two. Bitcoin got hit only because these scammers were holding it and used it as a distraction.

Anybody can hold bitcoin but those who were buying those lies that Luna created and investing in it allowed these scammers to buy bitcoin and eventually crash it. They are to blame for this disaster.

[mendace]

This is not a bad thing for Bitcoin but rather a blessing.  Yes, because this only shows how stable, secure and unassailable the protocol is.  This whole mountain of shit can collapse but Bitcoin will always remain standing, and they can throw all the shit that those mass media scum wants but they will never succeed and will end up like fools.

But at this point we can see that bitcoin is collapsing but that shouldn't put fear on any of us who is investor because we know that bitcoin have to do with going up and going down so it might be that this time is the season of it to be falling and not the season of each to be rising so I believe that what bitcoin is doing now is directly or strictly as a decoration but some people does not understand you that way so if you have your pit going now you can keep it and the weight on the moon the time it will recover to him please again

I can't understand what you're saying. Try to be more constructive in your speech, please.  I said that all these shitcoins crashing, all these exchanges failing, anything that isn't Bitcoin but wants to use the name just strengthens it when they crash.  What are you not clear about this?

[kamvreto]

~snip~ Similar incidents have happened in the past and now once again it have got repeated.

Similar incidents have occurred but with a different version and possibly bigger fraud. This keeps happening and in the future there will definitely be new events that will harm many people. we all really have to be prepared to face it.

Though the market have come across its hard year, the network have turned more strong and more positive things have happened around. It is good we see the positive note and stay hopeful. With cryptocurrency trust is the major factor that keeps the market moving.

Trust in cryptocurrencies is gradually recovering with a marked increase in the current bitcoin price. Indeed, currently, it is a difficult condition because a lot of FUD are spreading and making cryptocurrencies worse off. The FUD will also be reduced with some negative news that continues to emerge. Think positive and the market will definitely re-enter the bullish area, you just need to wait and be patient.

[serjent05]

Aside from the given list of OP, the current news today is brewing on the Proof of Reserve issue of Binance that is discussed in this thread[1].  Media are now focused on the credibility of Binance's audit and questioned Binance regarding the statement released by Mazars.  I don't know if the news is intentionally released to divert the attention of people from the biggest issue today or a big event about the FTX hearing that is about to happen. 

So if this news about Binance turns south then there is a possibility that the Bitcoin Bloody Year of 2022 may continue in the early months of 2023.




[1] https://bitcointalk.org/index.php?topic=5428039.0

[1miau]

Just take Mt. Gox as an example. It might have resulted in a declining Bitcoin price but the overall Crypto market came out stronger because people learned an important lessen: not your keys, not your coins.

Read what you have written, come on. People are supposed to have learned that lesson?

I'm sure if there's an exchange going into the woods again, we'll see many people crying again because coins were not sent to own addresses. 
It's a safe bet, so we can't say it often enough. 
Maybe crypto exchanges should make it mandantory for everyone to answer a question "not your xxx, not your xxx" and people need to fill in answers before depositing. 

What I see as good about this thread is that it is difficult for next year to be worse than this one. Not impossible but I see it difficult, so I hope we will get better.

Yes, it'll be difficult but don't say it too loud or Karma will hit us. 
In Germany, we have a famous saying: pessimists are optimists with experience. 

[Nuraiuii]

We never know what bitcoin's next move will be, and amidst negative crypto market conditions we must be patient and use bearish timing wisely because we know that in the future the market will recover and will reverse course, and only time will tell.
and bitcoin news there is always good and bad news and bad news will be a sign that more and more people will know about bitcoin and try to do analysis and search that will increase interest in bitcoin, and 2022 will end soon and also no good movement in bitcoin towards the end of the year. And we all hope the bearish end soon but we can't do anything and it's only a matter of time, and take advantage of this bearish to continue buying and Hodl.

In this bloody year, many investors have suffered losses, but they have also gained important experience and lessons from these events, and they will be more cautious when investing. The crypto market is unpredictable and no one is sure about the market. We don’t know how long the bear market will last, but hopefully next year will be a positive year for crypto and Bitcoin will be fine.

[jossiel]

In 2020-2021, we have witnessed the insane growth of the cryptocurrency market. 

Many cryptoassets were going up in price, and it was like crazy. 

Remember the rise in price of Dogecoin?  And also the rise in price of other derivatives of cryptoassets based on dog memes?  Remember the rise in prices of crypto assets in the DeFi space?  Rise in price of NFT (all those monkeys, cats, seals, etc.)?  Remember how Elon Musk had fun manipulating the crypto industry (one tweet creating and destroying billions of dollars)? 

2022 is the year of reckoning for all previous madness.  At the same time, Bitcoin, as a protocol for transferring value in the virtual space, has not become worse than it was before the beginning of 2022. 

Therefore, I am sure that the price of Bitcoin will rise in the future.

There is no doubt that the price of bitcoin will rise again, it's bound to happen and no matter how good or bad the past years were. Bitcoin is going to be naturally going up again.

We've seen it before and we'll see it again.

Correct, as bad as all the scams the OP listed are, if we take the time to look for similar scams on the past we are going to find out they have been part of this market for a long time, the difference is that since the size of this market is bigger then the scams are getting bigger too, so not only scams will not disappear but they will even worse than what we are seeing now, now for the people that have been aware of those scams this is not too much of a problem as they are never going to invest their money in any scam, but for newbies which still believe they can become rich in a matter of weeks they will keep falling in them regardless of our warnings.

I agree, as the market matures, the scam techniques will also upgrade and become more mature. They'll never stop as the market will never stop.

But I just hope that everyone has man up and became wiser for this year and for the next upcoming years.

[Woodie]

As much as we want to direct our energy towards the negatives that have slightly dented Bitcoins image, I think their some positives that the crypto ecosystem has recorded this year and need some praise! Talk about more countries recognizing btc as legal tender, going green in the crypto mining sector and basically more users using bitcoin this time around so not entirely a bad ending of 2022.

[D ltr]

2022 will end soon and a repetition of the period / cycle in trading will definitely occur especially in the case of bitcoin as we know the 4 year cycle has been implemented, so we can only repeat and anticipate unexpected circumstances in daily life such as scamers and hacks

[Oneandpure]

Have faced with bloody years 2022 after Bitcoin crashing drop drastically more than 60% from ATH above $63,000 become $17,000 nowadays, left 17 days later with 2022 and we have new hope can bring positive side for Bitcoin in 2023 reach higher price again. Actually most terrible bloody in 2022 with FTX collapse and I don't think can recovery back.

I believe with 2023 have positive side with Bitcoin and altcoin can break out to ATH price again, nothing exchange or altcoin project become scam for next year and hope few days left in 2022 not any bad thing happen again.

[borovichok]

Have faced with bloody years 2022 after Bitcoin crashing drop drastically more than 60% from ATH above $63,000 become $17,000 nowadays, left 17 days later with 2022 and we have new hope can bring positive side for Bitcoin in 2023 reach higher price again. Actually most terrible bloody in 2022 with FTX collapse and I don't think can recovery back.

I believe with 2023 have positive side with Bitcoin and altcoin can break out to ATH price again, nothing exchange or altcoin project become scam for next year and hope few days left in 2022 not any bad thing happen again.

The year 2022 have been one of the terrible year in Crypto as we have witnessed many projects dumps and few pumps. The bear market have surpassed the period of the bull as there's red long candles everywhere in charts. Bitcoin dumps heavily this year with enough dip, and other altcoins also join in the bearish movement. Perhaps I fully hope for the best in 2023 as it will be a new year, unlike 2022 that's pretty rough year for coins. I've lost much this year and I won't hesitate to bounce back to the market with profits in the upcoming year. This time around, we need to be extremely careful and know the root of every project and their targets before investing in it, and making sure it's a solid project with enough proof that it's gain is for both the investors and moderators.

[The Cryptovator]

What I like and personally feel is appropriate is the term "bloody year" for the crypto industry. A number of disaster have occurred in the crypto industry this year, causing Bitcoin and others to fall. Last year, cryptocurrency gained significantly, but this year has begun to fall. If something else happens here, the market will gradually collapse. Scammers have no interest in the crypto industry; all they want is money. There is new FUD surrounding Binance, which has caused the market to fall once more. If something happens to Binance, the market will suffer immensely. We need to see less drama in the cryptocurrency industry in the coming year.

[Fivestar4everMVP]

Indeed, 2022 has been a year filled with more negative news than the positive in the crypto space, this has had a great negative impact on the price of both bitcoin and altcoins all together, bitcoin dropped more than 70 percent from its all time high, the entire crypto market capitalization shared almost half(if not more than half) from its all time high as well.
Indeed, 2022 is one year I pray that all that happened in it, should not happen ever again going forward.
I am very glad the year is finally coming to an end, let us all hope for a far better year for Bitcoin and the entire crypto space come 2023.

[Wiwo]

History has repeatedly occurred severally and 2022 certainly will go into history as a reminder and as a lesson for future decisions and I hope we have learned to keep our investment from the exchange as most of the negativity of 2022 is from the exchange. Luna coin crash and some of the already mentioned, negative experiences of this year 2022. With more caution, we can avoid being victims of similar incidents of scam investment and wrong trust on exchange to safeguard our balance, there is not much difference between exchange and centralized bank institutions their all take control of your balance and they have the right to do whatever the want with your balance with them. Bitcoin offers us the right to be anonymous and private and its blockchain can be accessed by all without any restrictions unlike centralized marketplace where users must go through the process of KYC before operating them. Even though the year 2022 is coming to and end, instead of celebrating its ugly exit we should focus more on the lessons we have learned and try to avoid making similar mistakes in the future.

[Casdinyard]

Bitcoin is about to go through a bloody year.  A number of unexpected events have prevented the Bitcoin market from ever moving upward this year.  Dozens of unexpected events have struck fear into the minds of investors.  Starting with investors, governments and central banks have taken a cautious stance on Bitcoin.  So we are almost at the end of this unexpected year.

Some Bloody Events 2022 & Funds Exploits

• Mango Exploit : $114-115M
• Wintermute Hack: $160M
• Beanstalk Farm Hack: $180M
• Nomad Bridge Hack: $190M
• WormHole Hack: $320M
• Ronin Hack: $600M
• Voyager : $3.75b
• BlockFi: $4.5b
• Celsius: $4.5b
• Genesis Bankrupt: $5b
• 3AC implosions: $18b
• Luna/UST crashed: $40b
• FTX and Alameda Crashed: $40b+

The above shameful scam has completely negative impact on the Bitcoin market in 2022.  We all hope that such incidents do not happen in cryptocurrencies in the coming years.

It is with no doubt that the abovementioned issues struck the cryptocurrency world quite heavily. LUNA being the biggest perpetrator contributing to the collapse of cryptocurrency's credibility amongst the tuxedo people as well as the average joe. With cryptocurrency thriving on the complete trust of the people to the projects, there is still a great possibility that such happenstances may occur in the future, especially when we consider that yearly there are newcomers who are none the wiser when it comes to the ins and outs of the cryptocurrency world. That being said, I must say if it does happen again in the future, we'd be aptly-equipped to deal with these issues and would in return make wiser decisions that could lead to avoiding long-term bear markets like the one we are experiencing right now.

[Leviathan.007]

Well, that's the good thing about this year and it's about to end and we'll just leave all of those fiascos for this year.

But I doubt it that they're the last ones that we'll see, there will be for more and that is just teaching that we should be more careful where we keep our funds.

Overall the lessons are just the same on how we're going to keep it.

You are right and we got many lessons from what happened during this year, However, some lessons were not new for some people for Example regarding the last one and what happened to FTX people got a lesson to not keep their money inside any platform even if that a well known and trustworthy platform, also the year is not over yet and even during these days there is a possibility to see even worst things coming up to take new lessons from them with some consequences for other people.

[Fatunad]

Well, that's the good thing about this year and it's about to end and we'll just leave all of those fiascos for this year.

But I doubt it that they're the last ones that we'll see, there will be for more and that is just teaching that we should be more careful where we keep our funds.

Overall the lessons are just the same on how we're going to keep it.

You are right and we got many lessons from what happened during this year, However, some lessons were not new for some people for Example regarding the last one and what happened to FTX people got a lesson to not keep their money inside any platform even if that a well known and trustworthy platform, also the year is not over yet and even during these days there is a possibility to see even worst things coming up to take new lessons from them with some consequences for other people.

On the time you have decided to make dealings on this market then you should really make yourself prepared and be versatile as much as possible.You cant really make out direct conclusions on a market which do really
actively changed up or simply cant really be that predicted.Anything could happen in a snap and this thing should be bare up in mind.We are indeed a having a bloody year on this 2022
and we do hope that there would be some changed up on upcoming year 2023 which it might be some green and something that wont really becomes even more
worst with this recent year.

[lalabotax]

We are still not sure if this bloody market will end this year or will continue next year. I will really expect that this is the last year and will be ended. But, who knows? Because we are still surrounded by the big manipulators that are commonly playing the market, spreading FUD, and then making the market crash easily.

That is why what we are doing now is to be able to take every advantage during the bearish market. Although we know that it is sometimes very hard and risky, taking advantage during the bear market will be abut about collecting more Bitcoin in order to gain more profits in the next bullish era.

The above shameful scam has completely negative impact on the Bitcoin market in 2022.  We all hope that such incidents do not happen in cryptocurrencies in the coming years.

But unfortunately, scams will be always there continuing with even old or new ways. We may not stop scammers but we can avoid them if we want to learn and not be trapped by the scammers. Scammers always give a negative impact tot eh crypto world, moreover for the newbies who are entering in the crypto world and are scammed directly. This will spread FUD again that crypto is a scam.

[jossiel]

Well, that's the good thing about this year and it's about to end and we'll just leave all of those fiascos for this year.

But I doubt it that they're the last ones that we'll see, there will be for more and that is just teaching that we should be more careful where we keep our funds.

Overall the lessons are just the same on how we're going to keep it.

You are right and we got many lessons from what happened during this year, However, some lessons were not new for some people for Example regarding the last one and what happened to FTX people got a lesson to not keep their money inside any platform even if that a well known and trustworthy platform, also the year is not over yet and even during these days there is a possibility to see even worst things coming up to take new lessons from them with some consequences for other people.

Yeah, most of the lessons were too expensive to learn with. But let's just extract those important lessons especially to those victims that have been robbed with huge amount.

I don't wish to see anything worse than what has happened with FTX and other of the fiascos that we've seen.

It's better to see this year end without any of those ruckus anymore from these big corporations.

[thecodebear]

Sure has been a bloody year. Looks like the blood loss is stopping though. Bitcoin as of yesterday is already back out of the FTX crash range, back above the low from the Celsius collapse, above that bottom which it held for like 5 months before FTX. Unless there is another major collapse of some business or protocol the bottom should be in now and Bitcoin is out of that FTX range. Inflation is finally dropping and it looks like the Fed will only raise rates by 50 points today, signaling that they are starting to slow and will probably hold interest rates steady by the Spring.

2023 should be a good year for Bitcoin. Unless there is like a global recession or another major crypto company goes bust, bitcoin should be done crashing and in the Spring if Fed interest rate raises stop Bitcoin will start heading up again out of the teens and low 20s. I'm looking for $30,000s next summer and maybe over $40k by end of 2023.

No idea if it'll happen but I'd like to see some crypto friendly regulation and laws next year in the US, which could significantly boost Bitcoin. Biden administration has been gradually moving to making decisions on crypto legislation, just hope its friendly. Some Bitcoin-friendly regulation next year, and a bipartisan bill to exempt Bitcoin purchases of a few hundred dollars or less from taxes (which has previously been proposed in Congress), would really boost general confidence of Bitcoin in America, as well as end the big tax headache in the US when it comes to buying things with Bitcoin, and be a great catalyst to make the next bull run in '24/'25 much stronger than the somewhat stunted bull run of '21. Given that its a split congress starting in a month, not much is going to be getting done anyway. Senate is going to be confirming judges while the House is going to be going on crazy witch hunts to try to make people think Biden is corrupt like Trump is. May as well get some bipartisan positive crypto regulation in there so something actually gets done.


For those who are going through their first bitcoin bear market...don't worry, this happens every four years and it is nothing unexpected. This one was actually not as bad as others, though perhaps some of the surprise collapses of crypto protocols and companies made it feel worse. Really it took all those collapses to even make this crash get to around the range of previous crashes. Even so, with Luna, Celsius, and FTX dropping Bitcoin's price significantly 3 times, Bitcoin still has apparently bottomed at only 77% down, whereas I think the last two crashes were more like 83%-85%. It's a great sign for the Bitcoin market maturing and growing more stable.
If Luna hadn't collapsed then Bitcoin likely would have bottomed in the $30,000s (very possibly even that January bottom at $33k would have been the bottom as it looked unlikely to break that until Luna crashed the market) and likely the later collapses wouldn't have happened as the market wouldn't have been so low this summer (FTX might have even survived despite the serious mismanagement, though in light of its mismanagement and fraud I think it is good it collapsed now rather than all that coming to light later when the exchange would be even bigger). Anyway, 2023 should be a strong up year. For people who only got in near the top it'll still be rough, but for everyone else it'll be a good year as we'll all be watching our wealth start growing a lot again.