Cryptocurrency has been battered in a brutal 24-hour period, with bitcoin in particular suffering a $14,000 loss in an hour.
Unfortunately crypto is about to die. It's 2022 soon not 2018 and crypto is under unprecedented pressure.
First, there is pressure from governments:
⭕️ China has declared all cryptocurrency transactions illegal;
⭕️ EU will make Bitcoin traceable and ban anonymous crypto wallets in anti-money laundering drive;
⭕️ Swedish financial and environmental protection authorities call to ban cryptocurrency mining. Using renewable energy to mine Bitcoin will hurt global efforts to go green, Swedish regulators argue.
Second, maintenance costs aspect:
⭕️ World energy bills have grown by 80% in three years.
⭕️ A global energy crisis is coming.
The immediate target:
The long term target:
Unfortunately crypto is about to die. It's 2022 soon not 2018 and crypto is under unprecedented pressure.
First, there is pressure from governments:
⭕️ China has declared all cryptocurrency transactions illegal;
⭕️ EU will make Bitcoin traceable and ban anonymous crypto wallets in anti-money laundering drive;
⭕️ Swedish financial and environmental protection authorities call to ban cryptocurrency mining. Using renewable energy to mine Bitcoin will hurt global efforts to go green, Swedish regulators argue.
Second, maintenance costs aspect:
⭕️ World energy bills have grown by 80% in three years.
⭕️ A global energy crisis is coming.
The immediate target:
The long term target:
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