📍 3. Collapse 2021 – 2022 (Inflation + Federal Reserve)

Causes:

Bitcoin reached an all-time high of 69,000$ in November 2021.

Beginning of interest rate hikes by the U.S. Federal Reserve to combat inflation → Outflow of funds from high-risk assets.

Collapse of the LUNA and UST project (loss of over $40 billion).

Bankruptcy of the FTX platform in 2022 (loss of billions of dollars).

Result:

Bitcoin dropped to 15,500$ by the end of 2022.

Loss of confidence in centralized trading platforms.