3 Cryptos Beaten Down in 2022 That Are Ready to Bounce Back
After generating incredible returns through 2020 and 2021, cryptocurrencies have come to a screeching halt in 2022 as the easy monetary conditions that helped them thrive have come to an end and interest rates have risen. Furthermore, many participants in the industry have exacerbated the downturn, shooting themselves in the foot by taking on too much leverage and being caught offside when crypto prices declined, which triggered a wave of forced selling and insolvencies that drove prices down even further.
This overleverage saw top cryptocurrencies like Terra (CRYPTO: LUNA) implode over the course of just a few days, wiping out billions of dollars of market value in the process. Popular brokerage Voyager Digital (OTC: VYGV.F) and leading crypto hedge fund Three Arrows Capital filed for bankruptcy, while other popular platforms like BlockFi and Celsius are seeking bailouts from other crypto exchanges like FTX. As the dust clears and the leverage unwinds, what cryptocurrencies could bounce back in the second half of 2022 and give crypto investors something to cheer about?
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Source Fool.com
