major cryptocurrencies Bitcoin Bitcoin/USD has had a breakout year in 2021, hitting an all-time high. Recent events have brought the entire cryptocurrency market to a standstill.Click here for how to invest a year ago would be doing now.
What happened: Bitcoin and other cryptocurrencies did well in 2021 as the number of cryptocurrency trading platforms increased, giving investors more ways to gain exposure to the sector.
cryptocurrencies such as ethereum Ethereum/USD When Solana Sol/US Dollar You get it in non-fungible token use cases.
Bitcoin made a strong move in 2021 thanks to many companies adding cryptocurrencies to their balance sheets.Among the highlights was the leader in electric vehicles Tesla Inc. TSLA Add bitcoin later in the year. The company has since sold most of its holdings.
El Salvador Also became the first country By making Bitcoin a legal tender, the hope is that more countries will adopt it and follow suit.
2021 has been a great year for Bitcoin, with the cryptocurrency hitting an all-time high in November.
Bitcoin opened 2021 trading at $28,994.01 and closed at $46,306.45. This year’s trading range means that many people who bought bitcoin in early 2021 ended up in profitable positions if sold or held until the end of the year.
In 2022, companies such as Celsius and recently FTX filing for bankruptcy It hit the entire cryptocurrency market, pushing the price of Bitcoin below $20,000 and driving many 2021 investors into investing.
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If you invest $1,000 in BTC: Bitcoin traded at today’s high of $65,495.18 a year ago and is now close to an all-time high of around $69,000.
A $1,000 investment in Bitcoin on November 14, 2021 could have bought 0.0153 BTC. The same $1,000 investment is worth $251.11 today based on Bitcoin’s price of $16,412.18 at the time of writing.
This marks a 74.9% drop for Bitcoin last year.
many people have Expect Bitcoin price However, some point to the FTX meltdown as a major event that could hit the cryptocurrency market in the years to come.
This hypothetical investment shows that investing in cryptocurrencies can be volatile and investors should consider the associated risks.
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