Crypto Retrospective - Why cryptocurrency values ​​have fallen since the beginning of 2022. A little personal summary.

Indeed, if we go back in time and try to browse various articles published in multiple media publications, we will discover a lot of reasons. Ok, the reasons may vary, this means that they are different for the different cryptographic projects on the market, but that does not mean that they can be quite plausible reasons, which would represent the decline recorded at that time. If we try, let's go back in time to 2011 ... (ok here we will only refer to Bitcoin). The year 2011 is considered to be the first golden period of this revolutionary cryptocurrency, Bitcoin - a significant increase during the year, from 2 to 30 dollars. Unfortunately, in the same year, 2011 saw the first decline of this cryptocurrency - the Bitcoin exchange rate collapsed. The culprit in that historic decline, was considered to be the largest cryptocurrency exchange in the world (Mount Gox) at the time - which would have admitted that 25,000 Bitcoin cryptocurrencies were hacked and stolen from nearly 500 customer accounts.

Ok now, despite the fact that Bitcoin was still at the beginning of its journey, not having the popularity it can be proud of, in May 2011, Bitcoin's capitalization was about $ 50 million ... something impressive at that time. Just thinking about the fact that at that moment, Bitcoin was attacked from all sides and criticized from all points of view ... any attack, it did nothing but create a mass panic ... that bad mistrust. However, something good happened after those attacks. From my point of view, due to those media attacks, many people worldwide have started to become more curious about this cryptocurrency that made a splash in those historical moments. In this way, Bitcoin became more popular, gaining ground in this economic war. So, from my point of view, that organized attack, carried out on that cryptocurrency exchange - was just for that much-desired publicity (a simple idea, nothing more). Yep, honestly - thanks to those multiple media attacks, i personally discovered this revolutionary treasure.

Ok, let's try to continue our journey through time, until April 2013. In 2013 many of us have to discover many crypto projects: - Litecoin, Dogecoin, Bytecoin😁 Ethereum (how many of those people, present on this platform did not attend to follow the numerous lists of faucet🙋‍♂️ websites?). Finally, let us refer only to April 2013. Despite the events that took place in May 2011, the MT GOX cryptocurrency exchange continues its activity without any problem. Everything seemed to be going perfectly, the transactions becoming so intense that the crypto exchange platform could not cope with the volume of exchanges. Ok, this led to an error and a quick crash and of course the hackers were on stage, taking full advantage of that vulnerability created. Surprise👨‍🌾, surprise !! ... the crypto market had to close all transactions - a decision that would have reduced prices from almost $ 260 to just $ 50 per unit.

Finally, let's not waste much time with this year and move on until 2017. A great year where many new and very interesting projects will already appear ..... and, Bitcoin (the revolutionary leader) has risen up to the incredible $ 20,000. A year in which many skeptical voices presented Bitcoin as a speculative bubble that could explode at any moment. Hehee!! In time, more precisely in 2018, those negative presentations are proved to be an insensitive method of manipulating all people who eagerly wanted a piece of this precious treasure and more - we are already in the year when cryptocurrencies appear like mushrooms after rain and there was a lot of talk about a potential ban on Bitcoin in Korea, China and Japan (as if you could ban someone forever from accessing the internet).

Between 2020 and 2021, Bitcoin has managed to break new records - now, no matter what part of the world you belong to, it's too late to be stopped, banned and taken out of circulation. Meanwhile, PayPal is entering the crypto market, showing its support for Bitcoin. And Tesla and MicroStrategy bought huge amounts of cryptocurrencies, helping Bitcoin reach a record high of $ 60,000 - an unexpected surprise. Who would have thought in 2011 that this cryptocurrency would reach such impressive values??? Meanwhile, due to the fact that Tesla is giving up using Bitcoin as a means of payment - the entire cryptocurrency market is starting to decline. Let's not forget the decision taken by the Chinese officials - bans that caused a strong exodus of Chinese miners, while causing a small correction of the price of Bitcoin.

Ok, we are still at the beginning of 2022, and at the moment the cryptocurrency market is in a downward stage. Now it seems that the biggest impact on the price of Bitcoin has had the violence in Kazakhstan, as a result of which the government has cut off the Internet in the country, which has recently become an important crypto mining center. In general, Kazakhstan is a traditional stable state in Central Asia, often described as an authoritarian state - a country considered to be very rich in natural resources. Given that it is one of the largest producers of oil and gas in the world, anti-government demonstrations have erupted due to rising fuel prices. It will be something !! But from my point of view, rising fuel prices would not cause national hysteria, regardless of the country - that does not mean that it is the real reason to overthrow a government or shut down electric power to the whole country.

From my point of view, the year 2022 for the cryptocurrency market will be a far different one from the last years, and this is what even those events that have occurred so far say. Even if for some cryptocurrencies, the year did not start as most of us would have liked, this does not mean that we have to give up. Cryptocurrencies will always be permanently in a roller coaster - sometimes up, sometimes down .... But they will never disappear as is speculated in certain conspiracy creations.