End of Monster Chapter 2022, FTX

In the last quarter of 2022, news about the FTX, known as the second largest exchange in the cryptocurrency markets, was in the spotlight.
News that FTX Chief Executive Officer (CEO) Sam Bunkman-Fried asked for cash injections to overcome the liquidity crisis accelerated the decline in the crypto market, after which FTX filed for bankruptcy.
The bankruptcy of FTX was the end of the monster head of 2022, so to speak, for the cryptocurrency market.
Bitcoin, which started 2022 at $46,217, reached $15,588 for all these events, testing its lowest level since November 2020, and ended the year at $16,542 with a loss of approximately 64 percent.
Ethereum, which started the year at $3,676, saw its lowest level since December 2020 at $881, and completed the year at $1196 with a drop of about 67 percent.

Thus, Bitcoin and Ethereum spent their worst year since 2018, losing 8 months of value on a monthly basis in 2022.
While Bitcoin lost about 73 percent in 2018, it grew by 94 percent, 302 percent and 60 percent in 2019, 2020 and 2021, respectively.
"We’ve seen how problematic crypto-dependent systems can be."
IS Investment International’s capital market manager Shant Manukyan told AA that if banking systems or old financial institutions were considered inefficient, it became clear after the crises in cryptocurrency markets how problematic crypto-dependent systems can be.
Noting that the technical knowledge and entrepreneurial abilities of cryptocurrency owners in relation to cryptocurrencies can be very high, Manukyan said that especially after the FTX crisis it became clear how weak these people are in matters such as financial knowledge, balance sheet management and risk management.
Manukyan said that there are many people who sell dreams and said.
"Such people still exist, but they either do not know the reality, that is, the management of the company, balance sheets, how to measure the risk, or they are engaged in very serious fraud". Of course, other headquarters have also been affected".