Crypto Moves This Past Christmas: How Bitcoin, Ethereum and Dogecoin Usually Trade Towards the End of the Year – Bitcoin (BTC/USD), Ethereum (ETH/USD)

With Christmas just around the corner, investing in cryptocurrencies might be the last thing on many people’s minds, especially in a year that has seen digital coins thrashed. but Bitcoin BTC/USD, ether ETH/USDand Dogecoins DOGE/USD have their own holiday story to tell over the years.

See also: How to Buy Bitcoin (BTC)

The Bitcoin Christmas Jump: Benzinga analyzed bitcoin prices between December 20th and 31st last year. Bitcoin surged above $50,800 around Christmas Eve and has been buoyant during that time. However, the Apex cryptocurrency closed at $46,306.45 at the end of 2021.

Overall, 2021 was a great year for cryptocurrencies, including Bitcoin. But 2022 acted more as a damper. In 2021, investors hit an all-time high of $68,789.63 in November of this year. By the end of 2022, Apex coin is down 75.6% from this level.

BTC-USD Performance December 2021 – Courtesy of CoinMarketCap

In 2020, the trend was reversed as Bitcoin surged to $29,00.72 on the last day of this year. The coin capped Christmas Eve at $23,735.95.

BTC-USD Performance December 2020 – Courtesy of CoinMarketCap

Ethereum followed Big Brother: Ethereum followed the top coin in terms of price action during the 2021 holiday season. The second largest coin hit $4,100 on Christmas Eve, but it closed at $3,682.63 on the last trading day of this year.

That Vitalik Buterin-found Coin rode the boom in non-fungible tokens in 2021. The coin has surged nearly 450% this year, hitting an all-time high of $4,648.54 on November 10, 2021. This month, Ethereum’s decentralized finance protocols had $122 billion in committed value. However, by the following month of December, things had cooled down for the cryptocurrency.

ETH-USD Performance December 2021 – Courtesy of CoinMarketCap

It wasn’t the same during the 2020 holiday season. ETH ended Christmas Day at $626.41, but by the last trading day of this year it was at $737.80.

ETH-USD Performance December 2020 – Courtesy of CoinMarketCap

Santa Claus loves the good Boi: Dogecoin surged at Christmas 2021. The meme coin known for attracting prominent bulls such as Elon Musk and Snoop Dogg, ended Christmas Day at $0.19. On the last trading day of 2021, it had fallen to $0.17.

By Christmas 2021, DOGE was up a whopping 4,625%, buoyed in part by Musk’s tweets on the meme coin throughout the year.

DOGE-USD Performance in December 2021 – Courtesy of CoinMarketCap

In 2020, the meme coin has been seen around the $0.045 mark on both Christmas and New Year’s Eve. However, DOGE had surpassed the 5 cent mark on December 21, just before the holiday season.

DOGE-USD Performance December 2020 – Courtesy of CoinMarketCap

2022 was the Krampus year: November saw the bankruptcy of Sam Bankman Fried‘s cryptocurrency exchange FTX, which led to a massive price drop of the most important coins. This year has been dominated by the dovish stance of major central banks around the world.

Glassnode called 2022 one of the “most chaotic, volatile and financially brutal” years for the digital asset industry in a year-end report.

The on-chain analytics firm noted that short-term realized volatility for Bitcoin is currently at a multi-year low — levels not seen since October 2020.

Bitcoin: Annualized Realized Volatility – Courtesy of Glassnode.

Similarly, future volumes are low, sitting at multi-year lows, with both BTC and ETH trading at similar volumes ranging from $9.5 billion to $10.5 billion per day.

BTC Vs ETH Futures Volumes – Courtesy of Glassnode

“This shows the massive impact of the liquidity squeeze, widespread deleveraging and disruption to many credit and trading desks in the space,” Glassnode said.

The company noted that the accommodative monetary policy era of 2020-21 created a record year of total realized profit on the chain. Over $455 billion was raised annually by Bitcoin investors moving funds on-chain, peaking in November 2021.

“Since then it has been in a bear market regime and the market has given back over $213 billion in realized losses. This equates to 46.8% of 2020-21 bull gains,” noted Glassnode.

Continue reading: Google says “Beware” of scams this holiday season: Watch out for these red flags

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