Comparing the value of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) from last Christmas to this year’s reveals a striking contrast, showcasing a significant surge in their worth.
Suppose an individual made a foresighted investment or chose to gift someone $100 each in BTC and ETH last Christmas. In that case, the profits from those investments would be rather remarkable.
Let’s break down the numbers. On Christmas Day in 2022, Bitcoin was trading at around $16,900. Fast forward to the present day, and its value has soared to approximately $43,500. This remarkable growth translates to the $100 investment in Bitcoin a year ago now being valued at approximately $257.4, marking a staggering 157.4% increase.
Similarly, Ethereum has exhibited an impressive surge. Its price has surged from roughly $1,200 on Christmas Day in 2022 to approximately $2,290 today. Consequently, a $100 investment in Ethereum from last Christmas would now stand at approximately $190.83, marking a noteworthy 90.8% increase.
The market outlook as we approach 2024 is highly optimistic. Anticipation around Bitcoin ETFs and the upcoming halving is fueling confidence in a market resurgence, potentially surpassing previous all-time highs. Analysts remain hopeful for this bullish trend to extend well beyond the next Christmas, yet it hinges on the direction of market sentiment in the upcoming year.
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