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Did You Invest at the Peak?

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  • Patrick Thompson
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    Did you invest in cryptocurrency when the market was nearing its peak? Here’s how much you have lost per every $1,000 invested.

Did You Invest at the Peak?
Cover image via u.today
ByBit

Back in December — when cryptocurrencies were making the news daily, and word was spreading like wildfire among retail investors that if they put their money into Bitcoin, their investment would grow overnight — a lot of investments were made at the top of the market due to herd mentality and fear of missing out.

Bitcoin hit its all time high of $20,035.90 on Dec. 17, 2017 (https://coinmarketcap.com/). However, since that date, the price of Bitcoin and other digital assets has been in a steady decline. The market cap for cryptocurrencies has declined over 50 percent from the all time high of $327.1 bln in December to the current market cap of $129.7 bln on Feb. 6.

If you were one of the unfortunate individuals who invested in cryptocurrencies at the peak of the market, here is how much you have lost on every $1,000 that you invested into Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) — the three largest cryptocurrencies by market cap.

Bitcoin

According to CoinMarketcap.com, Bitcoin price hit an all time high of $20,035.90 on Dec. 17, 2017. If an investor put $1,000 into Bitcoin on that date, and we assume there were no fees when purchasing the Bitcoin, $1,000 would have bought .049 BTC. At press time, the price of Bitcoin is $7700 — a 61 percent decline in price from the all time high in December. Today, .049 BTC is worth $349.37; an investor who invested $1000 in Bitcoin during the peak of the market would have lost $650.63 on their initial investment.

Ether

Ether hit its all time high of $1413.72 on Jan. 13, 2018 — roughly a month after Bitcoin hit its record high. If an investor invested $1000 in Ether during the peak of the ETH market, that investor’s $1000 would have bought them .70 ETH. Since Jan. 13, the price of Ether has declined about 43 percent to $795.94. Today, .70 Ether is worth $557.16; an investor who invested $1000 into Ethereum during the peak of the market would have lost $442.84 on their initial investment.

Ripple

Ripple experienced its all time high of $3.73 on Jan. 4, 2018. If an investor invested $1000 into Ripple at the peak of the XRP market, that investor would have received 268.09 XRP in return. Since its all time high in January, Ether has declined 79 percent to its current value of $.765. If an investor invested $1000 into Ripple at the peak of the XRP market, that investor’s 268.09 Ripple would be worth $205.98 today —  a $794.02 decrease from the investor’s initial investment. Yikes.

The downtrend and the exception

The cryptocurrency markets have been having a rough time since the media slowed their roll and the narratives around Bitcoin took a turn to the negative. Out of the three largest cryptocurrencies by market cap, Ether has weathered the market the best. Ether is the only currency out of the big three whose price has not declined by 50 percent, and Ether is the only currency out of the three to finish January in the green. That being said, I don’t think any investor who put money into the cryptocurrency market at its peak would be too happy with the results the markets are showing today.

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About the author

Patrick Thompson is a freelance writer who has written for several publications in the past about a vast range of topics.  Thompson is an Economics & Philosophy major at Rutgers University, where he is currently completing his senior year; upon graduating, Thompson plans to go to law school. Thompson is currently the

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Bitcoin Price Forms Diamond Bottom Pattern, Signalling Bullish Breakout

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  • Alex Dovbnya
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    Bitcoin could witness a bullish breakout if its looming diamond pattern gets confirmed

Bitcoin Price Forms Diamond Bottom Pattern, Signalling Bullish Breakout
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

ByBit

The Bitcoin price is on the verge of forming a diamond bottom, which represents two juxtaposed symmetrical triangles. This a major bullish pattern that could be the bellwether of substantial price gains. 

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Top Bitcoin Trader on BitMEX Says He's "Long and Strong" as BTC Price Struggles to Hold $8,000

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According to cryptocurrency trader "The Moon," Bitcoin has a 70 percent chance of a bullish breakout if the aforementioned pattern gets confirmed.   

That said, Bitcoin would need a huge buying volume for this scenario to translate into fruition. 

Trading vet Peter Brandt noticed that the XRP/BTC pair was about to complete a diamond bottom. However, Ripple's native token failed to rally even before the much-awaited SWELL event that took place on Nov. 7-Nov. 8.     

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Bitcoin Price Could Soon Drop 40 Percent, BitMEX Data Shows

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As reported by U.Today, BTC dropped to the low-$8,000 level due to lack of enthusiasm on the buyer's side who failed to step in to reclaim $9,000. At press time, the coin that started it all is changing hands at $8,165 after being rejected at $8,200. 

Given that Bitcoin has trimmed all of its recent gains, market sentiment is now predominantly bearish. It remains to be seen how long it will be able to hold the crucial $8,000 support.      

Bitcoin Price
image by coinstats.app

Earlier, market analyst Willy Woo claimed that BTC's bearish price action ahead of the halvening event could mean that it might not witness another bull market. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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