Here’s what various cryptocurrencies have earned since last Christmas
The year 2021 was one of, if not the best years for the cryptocurrency market and digital assets in general, with the approval of the first US-based Bitcoin futures ETF, the NFT industry reaching the mainstream and Bitcoin breaking $ 65,000.
Bitcoin during the year
On this exact day a year ago, Bitcoin has been actively trading at around $ 24,000, which was the price just before another 40% rally that gave BTC its new ATH from that period of $ 42,000.
Right after reaching the new extreme, Bitcoin fell back by almost 30%, which some traders saw as the end of the rally and the beginning of another period of correction that could have lasted two or even three years.
But unfortunately for the Bitcoin bears, the rally has continued to show an additional 110% growth in less than three months. Bitcoin broke a new key resistance at $ 65,000 in November.
As of now, Bitcoin is trading at $ 50,000, which some traders consider a key support zone above which the majority of the market still makes a profit.
The best year in the history of Ethereum
While most people remember that last Christmas was exactly one year ago, Ethereum traders remember that it was 520% ago, which was the asset’s return in the year 2021.
Ethereum’s recovery was supported on three different fronts: the introduction of a fee-burning mechanism that could turn Ether into a deflationary asset, the NFT craze that fueled the burning process, and a surge in DeFi’s popularity that required that users will buy more ETH to use decentralized solutions. .
All of these factors and use cases put Ethereum in one of the strongest bullruns in the asset’s history. Looking at the graph, we clearly see that the race is still going on and most experts point out that it is almost impossible to predict when it will end.