The whole crypto market crashed badly in 2018 because of 2017 ICO bubble bursting. As those who have studied the crypto history know, when ICO projects complete sale of their token they switched their treasury completely to dollars, and this quick excess of Bitcoin and Ethereum available in the market crashed costs prompting the bear market of 2018-2019.
The people who had a wide number of these ICO tokens and they decided to keep on holding them through the very difficult times of 2018 bear market, their decision came out great. However, there were likewise a lot of retail financial backers that got bankrupt and broke badly. A major part of the market crash, and resulting bear market, was that the framework at the time wasn’t exceptionally refined as compared to what we all have at this point. As terrible as the market crash of 2022 is, what occurred in 2017-2018 was very little the extent to which market capitalization goes.
Before 2018, the crypto market was vigorously overheated, with financial backers tossing cash at all that moved, doing negligible to no level of effort, just to get along with the crypto hype that was building up. But in 2018, things were beginning to change and individuals were starting to feel the aggravation. In under a half year after the pinnacle ICO craze, more than 90% of the crypto projects were at that point dead, with a lot more to go down with them in the remainder of the 18-month long bear market.
After getting to the top in November 2021, the crypto market has kept on consistently crushing down. The people who had called the top in November clearly knew that the business sectors were overheated and inflation was beginning to go crazy. But still, many people were trying to claim ignorance about the beginning of the bear market way into April, which has brought about a many individuals holding the bags that may or may not recover.
At this point, what lies ahead appears to be clear. Since the cash printing since Covid-19 has been at such a remarkable level, the government is finding it hard to dial back the inflation without causing a ton of harm. The outcome at present is an approaching downturn simultaneously as inflation is as yet spinning out of control and driving up the costs of everything, meanwhile individuals’ salaries are deteriorating and their costs is expanding.
At the end, we want to say it out loud that 2018 bear market and 2022 are very different from each other and 2022 seems to be very difficult when we compare both of them. All we can do right now is to be patient and keep our hopes high and wait to see if in the near future we hear some good news regarding the crypto market.