Hit by the collapse of Luna and UST, as well as another round of interest rate hikes and balance sheet shrinking by the Fed, cryptocurrencies suffered a market-wide plunge in May 2022, and the market has not significantly rebounded so far. In addition, compared with their historical highs, the prices of Bitcoin and Ethereum have fallen by more than 50%. Meanwhile, other altcoins have suffered bigger falls. The entire crypto market is still going through a bearish period. That being said, will Bitcoin and Ethereum go to zero? The answer is a hard no. As the blockchain technology advances and becomes more widely adopted, a growing number of users have joined the crypto space, and the market cap of Bitcoin has even once exceeded that of Meta (formerly Facebook). Meanwhile, some conventional institutional investors are venturing into the crypto market, and Bitcoin appears on the balance sheet of an increasing number of listed companies. More and more institutions are paying close attention to the function of Bitcoin and Ethereum as hedging tools, and some countries have even ..
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