2022 was a year that no cryptocurrency investor wanted to remember.
From Bitcoin and Ether to Elon Musk’s favourite, Dogecoin, most cryptocurrencies bled heavily in the last year. After reaching its peak market cap in November 2021, the crypto market lost trillions of dollars in 2022, with the Terra Luna crash and the FTX fiasco also hurting the crypto market deeply.
But 2023 seems to have begun on a positive note for crypto investors.
Major Cryptos Start Strongly
The world’s two biggest cryptocurrencies, Bitcoin and Musk’s Dogecoin, are already up 11.5% and 12.5%, respectively, this year till date. Binance Coin (BNB) and Ethereum are both up 15% year to date, while XRP (Ripple) is up 8% and Cardano is up 29%.
Also Read: Another Collapse Coming? Binance Sees $12 Billion Crypto Withdrawals In Just 60 Days
Bitcoin Rally Gives Hope To Crypto Enthusiasts
The prolonged rally in Bitcoin is giving crypto enthusiasts hope and a reason to be happy during a dark and testing period for the crypto industry. Bitcoin has gone up for nine straight days, the longest such streak since 2020, according to data compiled by Bloomberg. Currently, Bitcoin is at $18,846.
Ether is currently at $1,409.52, Dogecoin is at $0.080, Tether is at $1, Cardano is at $0.33, and XRP/Ripple is at $0.37.
Now it remains to be seen whether cryptocurrencies are able to hold onto the momentum and make a stunning comeback in 2023 after a bloodbath year in 2022.
If you wish to look back at how major cryptos performed in 2022, you can check it here.
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