The cryptocurrency market has fallen off a cliff since peaking at nearly $3 trillion last November, as the entire industry's value is below $1 trillion today (as of July 26). And Bitcoin (CRYPTO: BTC), the world's most valuable digital asset, hasn't fared well, either. The top crypto has shed 55% of its value in 2022 and now sports a total network value of $405 billion.
Inflation and recessionary fears are now consuming investors' minds, scaring them away from riskier assets. But with prices down so much this year, is now the time to buy Bitcoin?
On the heels of the Great Recession, Bitcoin was launched to the public in January 2009 by an anonymous founder, or founders, going by the name Satoshi Nakamoto. The goal was to create a global, decentralized, censorship-resistant form of money that isn't controlled by any single authority. With the incredible levels of government borrowing, money printing, and quantitative easing that were about to start happening in 2009, the motivation behind Bitcoin is obvious.
Source Fool.com