Report: Countries and institutions shift to crypto despite market decline

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November saw a decrease in BTC mining revenue from publicly traded miners, as well as a decline of venture capital investment. There are also signs that Bitcoin could reach $12,000. This piece of crypto history can be purchased as a research article. Since the beginning of the second quarter 2022, the crypto markets have been declining. It seemed as though the crypto winter would be ending soon, but every time there was a notable crash, it happened again: Celsius, Three Arrows Capital, and most recently, FTX. This is close to the end of 2022. Analysts believe that Bitcoin (BTC), Ether (ETH), derivatives are showing positive signals for the market because of their high volatility. However, this volatility is also impacting sentiment in other areas such as regulation, mining and nonfungible tokens. Despite all this, companies like Porsche are expanding into the Web3 space and NFT space. In Brazil, a law legalizing crypto payments was passed. In November, more than 60 deals were completed by venture capitalists, bringing in $800 million in capital inflows to the space. Although there are many great things being done in this period of uncertainty, it is difficult to ignore the current market conditions. Download and purchase this report from the Cointelegraph Research Terminal. Bitcoin is the most important market indicator, and it may not be the bottom yet. BTC’s historical bear market price declines suggest that it could still fall to $12,000-$14,000. Cointelegraph Research’s Investor Insights Report is released every month. It analyzes key indicators from multiple sectors, including regulation and crypto mining. The market also looks to the past for clues that could help it predict the future. Despite the many speed bumps it has faced, Bitcoin has performed admirably. The chart below shows that Bitcoin has had drawdowns of at least 80% from its highs during the halving cycles before climbing again as it enters the next bull market. Despite the many positive developments Bitcoin and crypto have made over the years, this cycle is likely to see it drop to $12,000 to $14,000 before it recovers in the short- to medium-term. The Cointelegraph Research teamThe Research department at Cointelegraph includes some of the most talented people in the blockchain industry. The research team combines academic rigor with hard-earned experience to bring you the most accurate and insightful content on the market. Hays has assembled a team of subject-matter experts from the fields of finance and economics to provide the market with the best industry reports and insightful analysis. To provide useful and accurate information, the team uses APIs from many sources. The Cointelegraph Research team has decades of experience in traditional finance, business engineering, technology, and research. They are well-equipped to put their combined talents to good use with the Investor Insights Report. These opinions are only for informational purposes and are not meant to be specific advice or recommendations.