2022 Outlook Report: In The Midst Of Winter Q4

Report Summary

We are delighted to announce the release of CryptoCompare's latest Outlook Report, reflecting on the state of the digital asset markets in Q3, whilst looking forward to Q4 and beyond.

This report aims to capture, explain, and analyse these events and put into context what they might mean for cryptocurrencies over the next quarter and beyond. We cover macroeconomics, stablecoins, DeFi and more.

Key Takeaways:

  • Bitcoin and cryptocurrencies have so far failed to act as an inflation hedge, a long-proposed narrative by digital asset natives. In 2022, BTC and ETH have performed inversely to inflation and nominal interest rates.
  • As opposed to the last bear market, where all holders across different wallet sizes were panic-selling, in this bear market, we have seen a consistent accumulation in almost all accounts. Accounts above 10,000 Bitcoins have seen an increase which is likely due to increased institutional adoption.
  • Lower volumes were a prevailing narrative in previous bear markets, with the industry's future being questioned due to low activity. The average daily volume during the last bear market (2017) was $12bn, while current average daily volumes stand at $78bn, an increase of 546%. 
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