Nolan Bauerle, director of research at CoinDesk, says that 90% of current cryptocurrencies will not survive a drop in markets. Those who survive will dominate the game and increase profits for early investors. Our in-house research team and on-site financial experts work together to create accurate, unbiased and up-to-date content. We verify every statistic, quote and fact using reliable primary resources to ensure that the information we provide is correct.
You can learn more about GoBankingRates processes and standards in our editorial policy. And since the fall in cryptocurrencies is related to these types of macroeconomic factors, cryptocurrencies could, in fact, already be in the early stages of recovery. Vociferous opponents of cryptocurrencies have been quick to celebrate the death of the blockchain, insisting that all cryptocurrencies are fraudulent. The recent increase in cryptocurrencies in mid-July, along with other positive economic indicators that could indicate a slow turn of the bear market, could indicate a recovery of cryptocurrencies on the horizon.
Record inflation, fear, rising interest rates and a loss of confidence in crypto investments are contributing to the decline in cryptocurrencies.