A year ago, things were not looking particularly good for the cryptocurrency market.
A series of scandals in 2022 had sent the value of cryptocurrency straight down, after a period of strong recovery through the pandemic.
Be notified of the latest news: Get the Nettavisen app iPhone and Android her!
One of the biggest crypto exchanges (FTX) turned out to be a giant scam. It happened after one of the biggest cryptocurrencies – Terra USA – turned out to be a pipe dream.
2023, on the other hand, will go down in history as the year in which crypto made its comeback.
At the time of writing, Ethereum’s value has increased 100.2 percent in the past year, while Bitcoin is up a whopping 159 percent.
also read
More and more cryptocurrency is reported in the tax return
2023 was the comeback year
2023 started at a very low level after the FTX scandal. After initially recovering some of the fall at the start of the year, a long period began where the crypto market was surprisingly stable.
also read
Strong rise for Bitcoin – above symbolic limit
Between March and October, there were only minor fluctuations in the crypto values. This was widely regarded as a sign of good health.
Then what could have been seen as a scandal happened, but instead became a sell-off: The very largest crypto exchange Binance said guilty of, among other things, money launderingand accepted a multi-billion dollar fine.
The company’s CEO also pleaded guilty and has resigned. However, the company continues on.
– In the last couple of months, the Ministry of Justice has successfully prosecuted the top managers of two of the world’s largest crypto exchanges in two different criminal cases. The message should be clear: Using new technology to break the law does not make you a challenger, but a criminal, US Attorney General Merrick Garland said in a statement.
According to Coindesk, this is seen as something positive that builds trust in the system.
Strong rise
Figures from CoinMarketCap show that the value of all the world’s cryptocurrencies has increased from almost 800 billion dollars, to close to 1700 billion dollars at the time of writing.
In Norwegian kroner, there is talk of growth from around 8,000 to 17,000 billion Norwegian kroner.
By comparison, the value of the Oil Fund at the time of writing is NOK 15,680 billion
At the same time, it seems that the market is again focusing more on the two major cryptocurrencies Bitcoin and Ethereum, which now account for 2/3 of all crypto-value, while there has been less focus on the thousands of other cryptocurrencies out there.
2023-12-28 11:14:12
#Cryptocurrency #real #comeback
