The global price of Bitcoin, the most successful cryptocurrency, fell by 65.29 per cent in 2022.
This came as the adoption of digital currencies fell in a year rocked by crypto scandals, with the fall of FTX dominating the airwaves. According to data from coinmarketcap.com, the price of BTC fell from $47,686.81 as of January 01, 2022, to $16,547.50 as of December 31, 2022.
According to Chainalysis, a blockchain insight firm, the global adoption of BTC and other cryptocurrencies has leveled off after growing consistently since mid-2019. It stated that the global adoption of crypto reached its present all-time high in the second quarter of 2021. It added, “Ten are lower middle income: Vietnam, Philippines, Ukraine, India, Pakistan, Nigeria, Morocco, Nepal, Kenya, and Indonesia. Eight are upper-middle income: Brazil, Thailand, Russia, China, Turkey, Argentina, Colombia, and Ecuador. Two are high income: United States and United Kingdom.”
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