Bitcoin attracted institutional investment despite the market fall. Since the beginning of 2022, Bitcoin’s value has fallen by around 15%, compared to a 30% reduction in Eth. The massive rises in the value of altcoins seem to be doing well.
When it comes to market rallies and corrections, big digital assets like Ethereum, Binance Coin, and Cardano have historically outperformed Bitcoin. In contrast, the scenario in 2022 has been rather different so far.
Bitcoin trend in 2022
This year, Bitcoin has maintained its strength against cryptocurrency dealers. Since the beginning of 2022, the value of the digital asset has decreased by around 15 percent.
Although the correction seems to be huge, it is really rather little when compared to some of the larger cryptocurrencies. For example, the cryptocurrency Ethereum has lost roughly 30% of its value since the beginning of this year.
With a market capitalization of $1 billion, Cardano (ADA) is the world’s eighth most valuable asset, yet it has lost roughly 40% of its value during the same time.
One of the most important factors contributing to Bitcoin’s resilient behavior in 2022 has been the widespread acceptance of cryptocurrency by institutions.
Several major organizations, such as MicroStrategy, have continued to accumulate crypto assets, while a number of other well-known brands have joined the digital asset field.
While the Bitcoin network was experiencing turbulence, long-term Bitcoin investors continued to grow their BTC holdings.
Bitcoin and the Traditional Financial Markets
Bitcoin, like other conventional markets, has been under selling pressure as a result of recent geopolitical developments. The link between bitcoin and other conventional financial assets was an intriguing phenomenon that occurred during the most recent global financial markets crisis.