This time last year, as huge companies from Tesla, to Square, to BlackRock began to publicly back Bitcoin (with billions invested from the companies balance sheets), the original cryptocurrency hit $1 Trillion in market value for the first time, gaining over 66% increase in value over the month of February. This preceded the mayhem that was to follow in the next few months of crypto in 2021… Beeple’s record-breaking NFT sale, El Salvador’s legal adoption of Bitcoin, or even Elon Musk’s contribution to dogecoin’s meme-fuelled surge. Transaction growth slowed down in Q1 last year while small investor activity shot up. Many layer 1 alt. coins headed for the moon in Q1 last year, with Binance leading the charge with a 709% rally, Cardano gaining 550%, and Uniswap backing up the charge with a 444% gain.
The price difference in coins over the year is also another helpful statistic, serving as a reminder that time in the market is far more crucial than timing the market.
February 14th 2021 Price:
Bitcoin – $48,717.29 Rank #1
Ethereum – $1,805.08 Rank #2
Binance – $136.43 Rank #7
Luna – $6.12 Rank #32
Solana – $8.74 Rank #38
Crypto.com – $0.089 Rank #41
PancakeSwap – $6.81 Rank #71
Polygon – $0.1009 Rank #86
The Sandbox – $0.2636 Rank #236
February 11th 2022 Price:
Bitcoin – $43,616.43 Rank #1
Ethereum – $3,100.64 Rank #2
Binance – $415.61 Rank #4
Luna – $54.46 Rank #10
Solana – $107.12 Rank #8
Crypto.com – $0.5182 Rank #16
PancakeSwap – $8.12 Rank #53
Polygon – $1.88 Rank #15
The Sandbox – $4.48 Rank #34
*Rank is ordered by leading market cap valuation
A vast contrast to the market last year where the collective buzz in the air was undeniably bullish, the flagship of cryptocurrency, BTC, is down from its price 1 year ago. But have Bitcoin and crypto hit the bottom? over the last two weeks, market analytics have suggested fear is decreasing in the market, and Bitcoin is preparing to bounce back.