The year 2022 was a bad year for crypto investors. The crypto market lost over 55% of its capitalisation in 2022. Bitcoin’s opening price in 2022 was $46,200 with a closing price of $16,450, which was approximately 64% loss in a single year. Ethereum’s opening price in 2022 was $3690, with a closing price of $1172, which was a 68% loss. The Binance Coin’s opening price was at $512.2 with a closing price of $246.7, a loss of 51% throughout the 2022 Crypto crash.
The 2022 crash might not be the end of the bearish trend, though the last few days have shown a bit of hope for crypto investors as crypto assets across many exchanges have appreciated. The rally might be a temporary one as we might see prices of crypto assets reach a 3-year low. The next crypto bearish move could break the lowest price of 2022 to the downside further. When this eventually happens, then the hope investors had as a result of the recent rally would be dashed away.
Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get cryptocurrencies in your portfolio? Schedule a meeting with us here