The crypto winter of 2022 may be technically over, but the effects are still being felt. This year, the Miami Bitcoin Conference saw a whopping 50 percent dip in its attendance rate. The Crypto Winter Is Still a Powerful Enemy That means roughly half of last year’s crowd showed up this year, and many are blaming the crypto winter for the drops. Some analysts believe the number may be lower than what’s being reported. For example, this year, roughly 15,000 people were in attendance. However, there are records suggesting last year’s attendance rate exceeded 35,000. Despite this, the event still featured some relatively high-ranking individuals, one of which was democratic candidate for the White House Robert F. Kennedy Jr. Kennedy is clearly a bitcoin fanatic. He
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The crypto winter of 2022 may be technically over, but the effects are still being felt. This year, the Miami Bitcoin Conference saw a whopping 50 percent dip in its attendance rate.
The Crypto Winter Is Still a Powerful Enemy
That means roughly half of last year’s crowd showed up this year, and many are blaming the crypto winter for the drops.
Some analysts believe the number may be lower than what’s being reported. For example, this year, roughly 15,000 people were in attendance. However, there are records suggesting last year’s attendance rate exceeded 35,000.
Despite this, the event still featured some relatively high-ranking individuals, one of which was democratic candidate for the White House Robert F. Kennedy Jr.
Kennedy is clearly a bitcoin fanatic. He mentioned he is going to be accepting bitcoin and crypto donations for his campaign, and he also stated that should he become president, the government will never get in the way of investing in and holding digital assets. He commented during a speech:
As president, I will make sure that your right to hold and use bitcoin is inviolable. I am an ardent defender and lifelong defender of civil liberties, and bitcoin is both an exercise and a guarantee of those freedoms.
He also took serious issue with the situation involving Canadian truckers in 2022. During that time, several of these men took to protesting after their government announced they were required to take the COVID-19 vaccine. When their bank accounts and other financial tools were shut off, they sought to gain access to crypto so they could continue their actions.
From there, the Canadian government got in the way and sought to freeze whatever digital assets they got their hands on. Kennedy said he would make sure the government could take no action like that in the future and commented:
None of these lawful and peaceful protestors had violated any law, but suddenly, they found that they could not access their money [or] their bank accounts to pay their mortgages or feed their families. When I witnessed this devastating use of government repression, I realized for the first time how free money is as important as free expression.
So Many Losses
The crypto winter of 2022 was arguably the worst period for bitcoin and its digital cousins. BTC – the world’s number one digital currency by market cap – was trading at a new all-time high of $68,000 per unit during November of 2021. However, roughly one year later, the asset had lost more than 70 percent of its value and was trading in the mid-$16K range. It was a sad and ugly sight to see.
Unfortunately, things didn’t quite stop there, and many cryptocurrencies followed in BTC’s footsteps, thus causing the arena to lose more than $2 trillion in overall value.