How did Cryptos Perform on Christmas Eve in 2022?
How did cryptos perform on Christmas eve in 2022? In this article, we analyze the top 3 cryptocurrencies Bitcoin, Ethereum, and Binance Coin.
The year 2022 was a harsh one for cryptocurrencies. Currently, there is a lot of uncertainty about whether cryptos will continue to dump in the coming year. However, Christmas eve was a stable day for cryptocurrencies. How did cryptos perform on Christmas eve in 2022? In this article, we analyze the top 3 cryptocurrencies Bitcoin, Ethereum, and Binance Coin.
How did Cryptos Perform in 2022?
To sum it up, pretty bad. Most cryptocurrencies are down by an average of 70% YTD. There is a lot of factors that pushed crypto prices downward:
How did Cryptos Perform on Christmas Eve 2022?
Bitcoin Performance
Bitcoin remained flat, hovering around its price of $16,800. Its market cap in turn did not fluctuate, standing at a current market capitalization of $323.9 Billion. In fact, Bitcoin barely moved since the past week, and barely increased by 0.62% in the past 7 days.
Ethereum Performance
Ethereum’s value was constant, circling about $1,200. Its market capitalization, meanwhile, remained stable at $149 billion as of this writing. In actuality, Ethereum slightly increased over the previous week and has risen by 3.07% over the last 7 days.
Binance Coin Performance
Binance Coin also did not make any significant price changes over the past 24 hours. BNB prices remain constant at around $244, barely changing even since last week. When there are few buyers and sellers, prices remain constant mostly. This is true for the entire crypto market as we’ve seen for Bitcoin and Ethereum.
Conclusion
In spite of the ambiguity, most cryptocurrencies held steady. However, the decline can potentially begin immediately following the holidays, ruining the first quarter of 2023. Investors should use caution while taking positions in cryptocurrencies and set stop-loss levels to protect against significant market downtrends.
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Rudy Fares
Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.
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