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The collapse of the cryptocurrency market over the past three days has led to the erasure of $200 billion in market capital. And the bottom might still be a long way away.
Bitcoin, Ethereum, and all major cryptos were down more than 10% in the past 24 hours as of 10:00 a.m. ET on Monday. And the global crypto market cap stood under $1 trillion for the first time since February 2021, according to CoinMarketCap.
Analysts say the selling pressure is likely to continue at least until the results of this week’s Federal Reserve meeting are announced. Analysts at crypto exchange Bitbank put Bitcoin’s target range for the week as low as $20,000.
It’s enough to make anyone pine for the glory days, especially people who jumped into the crypto market during the height of the pandemic. With prices spiraling down, we started wondering again how the returns looked for people who had invested in the past few years. Here’s how it stands these days if you put in $1,000 at different moments in the crypto market:
Very early investors in the crypto market are still well ahead, of course. But even those gains are shrinking fast. Just over a month ago, for example, that $1,000 investment in Bitcoin saw returns of $11,922. And Ethereum’s gains have been cut in half in that time.
Bitcoin: $8,673.28
Ethereum: $2,994.88
Solana: N.A.
Dogecoin: N.A.
Shiba Inu: N.A.
The first crypto rush was underway, but it was so long ago that investors must still be in the black, right? Nope. Bitcoin investors are still seeing some gains, but those who bet on Ethereum are seeing losses now.
Bitcoin: $1,592.87
Ethereum: $923.47
Solana: N.A.
Dogecoin: N.A.
Shiba Inu: N.A.
The first crypto crash had occurred, but prices were on the way back up. And a quirky little meme coin called Dogecoin had made its debut, but hadn’t turned many heads yet. People who sunk money into Dogecoin then are still far ahead, but not nearly as far ahead as they were a month ago, when the gains on a $1,000 investment topped $35,000.
Bitcoin: $1,898.90
Ethereum: $3,929.20
Solana: N.A.
Dogecoin: $16,426.80
Shiba Inu: N.A.
The official start of the pandemic was a good time to invest in crypto. Bitcoin was under $5,000 and Ethereum was trading for just $108.79. Dogecoin, though, proved to be the best bet for anyone willing to risk $1,000.
Bitcoin: $4,694.71
Ethereum: $11,025.83
Solana: N.A.
Dogecoin: $31,469.65
Shiba Inu: N.A.
The rocket ship had lifted off and crypto mania was in full force. But for people who bought near the high, that $1,000 is generally noticeably smaller these days.
Bitcoin: $653.13
Ethereum: $566.55
Solana: $1,076.55
Dogecoin: $172.02
Shiba Inu: $984.01
Bitcoin and Ethereum were at or near their peaks. So was Shiba Inu. And if you invested in any of them last November and have been holding, it’s a pretty scary time.
Bitcoin: $339.02
Ethereum: $250.79
Solana: $112.24
Dogecoin: $194.77
Shiba Inu: $145.80
The writing on the wall was starting to become visible at the start of the year. Prices were down considerably from the high, especially Bitcoin and Ethereum. Some investors bought on the dip, but have come to regret it.
Bitcoin: $477.59
Ethereum: $318.52
Solana: $153.93
Dogecoin: $313.62
Shiba Inu: $234.33
Even short-term investors are feeling the pain. Here’s what $1,000 invested a month ago would be worth today.
Bitcoin: $787.33
Ethereum: $605.26
Solana: $565.34
Dogecoin: $600.62
Shiba Inu: $624.02
The crypto bloodbath is affecting everyone, even people who sunk $1,000 into the market as early as a week ago.
Bitcoin: $733.07
Ethereum: $652.48
Solana: $646.24
Dogecoin: $662.99
Shiba Inu: $723.33
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