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Despite Falling Numbers, Bitcoin Investors Hopeful Crypto Will Bounce Back in the Future; Continual Changes in Technology Keep the Volatile Industry Moving Forward

  • Bitcoin has seen an overall decrease of 57% since November 2021 (an all-time high) and a YTD decrease of 37%
  • Investor Mark Cuban tweeted that he believes cryptocurrency is in a lull period, much like the early internet, and expects the industry to bounce back – especially for those utilizing smart contracts for business productivity and profitability
  • Political and economically driven, green energy initiatives for mining Bitcoin and other cryptocurrencies are rising – companies like Canaan Inc. have already begun implementing the necessary changes to strive for carbon-free emissions
  • With blockchain fees high, Robinhood has created a new Web 3.0 wallet, which it plans to have available by the end of 2022 to customers, specifically designed to absolve the fees, making it a free wallet to use – one of the first of its kind

Despite reaching an all-time high in November 2021, Bitcoin and other cryptocurrencies have seen major shifts in value almost daily in recent weeks. According to analysts and market experts, there is a long way to go before recovery from the current crash starts.

“While BTC’s price indicates that we’ve still got a long way to go before a rally or an early recovery, data from glassnode showed that addresses with at least 0.01 BTC passed the 10 million mark for the first time. While we already know that institutions made…

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For additional information on Canaan Inc., visit

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