Weekly Recap: Weak Start to a New Year

Last edited: Jan 2, 2022

2022 hasn’t been off to a flying start like some bullish investors would’ve hoped. Instead, all coins are dropping off the rails this week, as coins struggled to keep their momentum from last week. Let us take a look at the performances of the major coins over the past week, and a brief recap of the performance over 2021 as a whole.

BTC: $46,967.4 (-7.85% over the past 7 days)

BTC was steadying itself last week at around the $50,000 level, but it was unable to do so this week, as it dropped nearly 8% to just below $47,000. This is not the price most bullish investors anticipated BTC to close at the end of 2021, especially not after the hype around early November, when BTC was knocking on the doors of $70,000. All in all, BTC still made massive gains in 2021, up more than 50% on the year, and hopefully it will repeat its excellent performance in 2022.

BTC price chart over the past 7-days (1-hour intervals)

ETH: $3,801.91 (-6.75% over the past 7 days)

ETH also did not manage to hold its ground at the $4,000 price level, dropping down to just above $3,800 to close out the year. However, this has been an unbelievable year for ETH, more than quintupling its price from its January 1st close of $730.07 to its December 31st close of $3,696.23. Thus, despite the fact that ETH is down almost 7% this week, investors can take solace in that ETH has made its buyers more than 500% return this year, and that 2022 is looking even brighter.

ETH price chart over the past 7-days (1-hour intervals)

DOGE: $0.1726 (-9.5% over the past 7 days)

DOGE is the epitome of crypto in 2021. It is intimately connected with media attention, influencers, and memes. It has had massive swings on both fronts, many speculated and made 1000% returns, while others jumped on the ship at the highest point only for it to sink right away. All in all, considering DOGE started the year at $0.005 per coin, investors should be quite satisfied with the fact that DOGE closed at around $0.17, a 3400% return in 2021. However, since many investors bought after DOGE became more popular, which is in May, when DOGE was hovering between the $0.3 – 0.5 price range, they would’ve liked DOGE to put up more of a fight after May. However, with the entire crypto market looking optimistic for 2022, it is entirely possible for DOGE to have yet another great year, though not on the scale of its 2021 run.

DOGE price chart over the past 7-days (1-hour intervals)

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