Bitcoin (BTC/USD), Dogecoin (DOGE/USD) – If you invested $1,000 in Bitcoin, Dogecoin and Ethereum on January 1st, here’s how much you lost in 2022 so far
Here’s a look at how three of the most popular cryptocurrencies have performed in 2022 and how much a hypothetical $1,000 investment in each would be worth now.
What happened: After a strong 2021 for the cryptocurrency market, 2022 may go down as one of the darker periods for the sector.
Among the biggest stories in the first half was the collapse of Terra LUNA/USD and stablecoins TerraUSD UST/USD. The stablecoin lost its grip and went well below the $1 level before crashing. This had a ripple effect on the cryptocurrency market and caused prices to fall for many coins. Liquidations followed.
Cryptocurrency trading platforms and lenders are now facing a crisis with big names like Celsius and Voyager declare bankruptcy. The big news has caused losses for many cryptocurrency investors.
Related link: 2021 was the year of Dogecoin: a month-by-month look back with top stories
Investment $1000 in BTC, DOGE, ETH: An investment of $1,000 in Bitcoin BTC/USD, Dogecoin DOGE/USD and Ethereum ETH/USD in 2022 would have produced a large loss so far this year.
Bitcoin traded at $46,306.45 on January 1, 2022. A $1,000 investment in Bitcoin on the first day of the year could have bought 0.0216 BTC. Bitcoin is currently trading at $21,514.32. The $1,000 investment would be worth $464.71 at the time of writing.
Dogecoin traded at $0.1705 on January 1, 2022. A $1000 investment in Dogecoin on the first day of the year could have bought 5685.10 DOGE. Dogecoin is currently trading at a price of $0.06469. The $1,000 investment would be worth $367.77 at the time of writing.
Ethereum traded at $3,682.63 on January 1, 2022. A $1,000 investment in Ethereum on the first day of the year could have bought 0.2716 ETH. Ethereum is currently trading at a price of $1,734.34. The $1,000 investment would be worth $471.05 at the time of writing.
Investing $1,000 in each of the three cryptocurrencies on January 1 would now be worth $1,303.53 as of September 10, 2022. This represents a 56.5% loss from the $3,000 investment. The three cryptocurrencies have rebounded slightly from the first half of the year, where the hypothetical investment of $3,000 was down 63.9%.
The return in the first half of 2022 is a significant change from 2021, which saw a hypothetical investment of $1,000 in each of the three cryptocurrencies mentioned worth $36,471.85 at the end of the year.
Year-to-date performance for the three cryptocurrencies was:
Bitcoin: -53.5%
Dogecoin: -63.3%
Ethereum: -52.9%
Price action: The 52-week intervals for the three cryptocurrencies are as follows:
Bitcoin: $17,708.62 to $68,789.63
Dogecoin: $0.04972 to $0.3388
Ethereum: $896.11 to $4,891.70
