2022 in Review: Bitcoin, ether, other cryptos fall big this year
Unlike 2021, the current year has turned out to be quite bad for cryptocurrencies. All the digital currencies shed most of their worth in the past 12 months.
The world’s most famous cryptocurrency Bitcoin that started this year on an upbeat note when it hovered around $46,208 dropped to $30,000 on May 10, and further to $18,958 on June 19.
Although bitcoin prices recovered to $22,400 on September 13, it now hovers around $16,840 on December 21, according to the CoinDesk prices. The highest level of this digital currency was hit on March 30 when it topped $47,456.
And one can imagine, bitcoin was no exception. All other cryptocurrencies faced the same fate. From ether to polka dot – all these decentralised currencies were in a free fall during 2022.
Ether: Just as bitcoin, Ether also lost big during 2022. When the year began, ethereum was trading at $3,677 per unit. It dropped to $2,442 towards the end of the same month on January 25, the CoinDesk prices show.
It recovered somewhat on April 5 when it bounced back to $3,520 but that was followed by a string of drops when ether started hitting new lows.
On June 19, it dropped below $1,000, again rose to $1,935 on August 15. It now hovers around $1,210 on December 21.
Polkadot: Just as other popular digital currencies, Polkadot also dropped big this year from $26.70 on January 1 to $4.52 on December 21, a massive fall of 83 percent.
The cryptocurrency had hit $30 on January 4 but dropped to $18 on January 23. It continued to fall and hit $8.30 on May 13, CoinDesk prices show.
In the second half of the year, polkadot's price remained in the single digit. It was trading around $7.29 on September 3 and $6 on November 11.
Market-capitalisation
The overall market capitalisation
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