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What Are The Main Reasons Behind The Downfall Of Cryptocurrencies in 2022?
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[QUOTE="Holicent, post: 245877, member: 76163"] [FONT=Verdana] Cryptocurrencies have been on a downward trend since the beginning of the year. This is because of a number of factors. Aside from the pandemic, there is a lack of trust in cryptocurrencies among consumers and investors. This is because some of the biggest cryptocurrencies have been hacked, causing millions of dollars worth of losses. For example, in October 2018, hackers stole $500 million worth of cryptocurrency from a Japanese exchange called Coincheck. In December 2018, hackers stole $40 million worth of cryptocurrency from an exchange called Binance. These high-profile hacks have caused many people to lose faith in cryptocurrencies as an investment vehicle and payment method. Second, there are not enough businesses accepting cryptocurrencies as payment methods or using them as currencies for their transactions. This limits the usefulness of cryptocurrencies on a daily basis and makes them less attractive to both consumers and merchants who may be interested in using them as payment methods but are unable to find businesses willing to accept them as payment options at their stores or restaurants due to lack of demand from consumers who want these options available when buying goods or services from merchants who don't offer such options at all because they simply aren't interested enough yet due to lack[/FONT] [/QUOTE]
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What Are The Main Reasons Behind The Downfall Of Cryptocurrencies in 2022?
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