Although the overall crypto market has been down over 30% for the better part of 2 months already, it really has not been as long as we all might think since crypto was surging.
Let’s take a look at just how long ago these cryptos hit their records to give us a bit of perspective.
Only 45 days ago Bitcoin was roaring in the high 60’s with everyone sure it was going to break 70k.
With Bitcoin currently hovering around $43k that 70k once again looks like a dream for most holders, especially now that the US stock market is also not doing as well.
No surprise here. On the same day that Bitcoin hit it’s all-time high, so did Ethereum, which had a monster year in 2021 growing over 425%.
The Ethereum 2.0 network is supposedly going to be launched sometime this year, and when that finally happens we could see another bump.
While Bitcoin and Ethereum have been down for a month and a half now, Polygon hit it’s all time high less than 30 days ago.
As a matter of fact, in the last 90 days Polygon has actually been up 58% compared to -33% for Bitcoin and -14% for Ethereum
And with the London hard fork arriving tomorrow we could see something big from Polygon in the next few months.
Even though Dogecoin just got some nice exposure from Elon Musk when he announced that Tesla now accepts Dogecoin for purchases on their website, Doge has still been dead in the water for over 200 days.
It’s hard to regain momentum on these types of campaigns, but if mass adoption starts with Tesla anything is possible.
Cardano has also had a rough 3-6 months as their current price of $1.50 is less than half of their all-time high.
Even though they are the 5th highest cryptocurrency in terms of overall market cap at $41 billion, XRP is not far behind at $36 billion.