On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

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 large BTC bets last year, this metric indicates that retail investors are continuing to remain bullish about the digital asset,” said Darshan Bathija, CEO and co-founder of cryptocurrency exchange Vauld (https://ccw.fm/hQLVt). 

Other industry investors believe that cryptocurrency is just experiencing a ‘lull’ and will bounce back bigger and better than ever. Bitcoin has seen a decrease of 37% YTD (57% over the highest reported value in 2021), but investor Mark Cuban tweeted, “Crypto is going through the lull that the internet went through. After the initial surge of exciting apps, NFTs, DeFi, P2E, we saw the imitation phase as chains subsidized the movement of those apps to their chains (ala bandwidth and storage subsidies by startups in the 2000s).” Cuban also believes that the investors who choose smart contracts to improve business productivity and profitability will be those that win big (https://ccw.fm/v5MiY).

A smart direction cryptocurrency investors could be heading in is the implementation of clean energy initiatives in the mining sector, with more companies focused on this green approach as a result of political, social and economic pressures to reduce the carbon footprint of crypto mining. Companies such as Canaan Inc. (NASDAQ: CAN), a developer of supercomputing chips and digital blockchain equipment, are answering the call, making it ever clearer that the future of Bitcoin is linked to green energy.

Based in China, Canaan is world-renowned for the invention of the first ever application-specific integrated circuit (“ASIC”)-powered Bitcoin mining machine in 2013, which was one of the catalysts of the mining sector’s subsequent growth. As part of its commitment to lowering energy requirements for mining, the company released the world’s first 7nm ASIC chip in 2018, thus offering energy-efficient computing technology to the industry. Canaan remains dedicated to expanding its suite of advanced technologies to further lower cryptocurrency mining energy needs and propel the industry toward sustained growth.

Another technological advancement that can help drive industry growth and serve as a boon for investors relates to changes in blockchain infrastructure designed to enable faster, more affordable transactions and ultimately attract a higher number of users. 

From Bitcoin’s Lightning Network to Robinhood’s new Web 3.0 wallet with no fees, the blockchain infrastructure is constantly changing. The basic blockchain transaction is slow and costly, which has required new technology overlays to both speed up and make the process more inexpensive, especially as the acceptance of cryptocurrency as payment becomes more common. 

“At Robinhood, we believe that crypto is more than just an asset class. Our web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer,” Robinhood CEO and co-founder Vlad Tenev stated, discussing his company’s new endeavor (https://ccw.fm/BQlYd). The company has not disclosed which blockchains the wallet will be compatible with but plans to have it operational and available to customers by the end of 2022.

Given the projected growth of the crypto mining hardware market, from $1.49 billion in 2020 to an estimated $2.58 billion by 2028 (https://ccw.fm/KrxlN), as well as the impressive growth technologies such as the Lightning Network have seen in recent months (https://ccw.fm/aNLuj), it is safe to conclude that technological innovation remains one of the key drivers of the cryptocurrency market in general, and an essential driving force for the industry’s expected comeback and future expansion.

For additional information on Canaan Inc., visit https://ccw.fm/AcwfV.

About CryptoCurrencyWire

CryptoCurrencyWire (“CCW”) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets, (3) enhanced press release services to ensure maximum impact, (4) social media distribution via IBN (InvestorBrandNetwork) to nearly 2 million followers, and (5) a full array of corporate communications solutions As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information about crypto converge.

To receive instant SMS alerts from CryptoCurrencyWire, text “CRYPTO” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.cryptocurrencywire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published: https://CCW.fm/Disclaimer

CryptoCurrencyWire (CCW)
New York, New York
212.994.9818 Office

CryptoCurrencyWire is part of the InvestorBrandNetwork.


Select A Month

Official NewsWire Relationships

Anarchapulco Main Event Blockchain Africa Conference Blockchain Futurist Conference Blockchain Life Conference Blockchain Shift Coingenius Coinvention CryptoBlockCon CryptoFest European Blockchain Convention EVOLV - evolve.events Finovate nftexpoverse Paris Blockchain Week The North American Bitcoin Conference Virtual Blockchain Week The Voice of Blockchain World Crypto Conference

CryptoCurrencyWire Currently Accepts



Bitcoin Cash

Bitcoin Cash

Doge Coin






USD Coin

USD Coin

Contact us: 212.994.9818