Right here’s a take a look at how three of the preferred cryptocurrencies have carried out in 2022 and the way a lot a hypothetical funding of $1,000 in every could be price now.
What Occurred: After a robust 2021 for the cryptocurrency market, 2022 might go down as one of many darker durations for the sector.
Among the many greatest tales within the first half have been the collapse of (CRYPTO: LUNA) and the stablecoin TerraUSD (CRYPTO: UST). The stablecoin misplaced its peg and went effectively under the $1 degree earlier than crashing. This had a ripple impact for the cryptocurrency market inflicting costs to fall for a lot of cash. Liquidations adopted.
Cryptocurrency buying and selling platforms and lenders at the moment are going through a crunch with massive names like Celsius and Voyager declaring chapter. The large information objects have triggered losses for a lot of cryptocurrency buyers.
Associated Hyperlink: 2021 Was The 12 months Of : A Month By Month Retrospective With High Tales
Investing $1,000 in BTC, DOGE, ETH: A $1,000 funding in (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE) and (CRYPTO: ETH) in 2022 would have posted a giant loss year-to-date.
Bitcoin traded at $46,306.45 on Jan. 1, 2022. A $1,000 funding in Bitcoin on the primary day of the yr might have purchased 0.0216 BTC. Bitcoin presently trades at $21,514.32. The $1,000 funding could be price $464.71 on the time of writing.
Dogecoin traded at $0.1705 on Jan. 1, 2022. A $1,000 funding in Dogecoin on the primary day of the yr might have purchased 5,685.10 DOGE. Dogecoin currenttly trades at a worth of $0.06469. The $1,000 funding could be price $367.77 on the time of writing.
Ethereum traded at $3,682.63 on Jan. 1, 2022. A $1,000 funding in Ethereum on the primary day of the yr might have purchased 0.2716 ETH. Ethereum presently trades at a worth of $1,734.34. The $1,000 funding could be price $471.05 on the time of writing.
Investing $1,000 in every of the three cryptocurrencies on Jan. 1 would now be price $1,303.53 as of Sept. 10, 2022. This represents a lack of 56.5% from the $3,000 funding. The three cryptocurrencies have rebounded barely from the primary half of the yr efficiency that noticed the hypothetical $3,000 funding down 63.9%.
The return within the first half of 2022 is a big change from 2021, which noticed a hypothetical funding of $1,000 in every of the three talked about cryptocurrencies price $36,471.85 on the finish of the yr.
The year-to-date efficiency for the three cryptocurrencies have been:
Bitcoin: -53.5%
Dogecoin: -63.3%
Ethereum: -52.9%
Worth Motion: The 52-week ranges of the three cryptocurrencies are as adopted:
Bitcoin: $17,708.62 to $68,789.63
Dogecoin: $0.04972 to $0.3388
Ethereum: $896.11 to $4,891.70
© 2022 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
