Here’s how much the price of bitcoin, ethereum, and other cryptocurrencies shifted in January

Here's how much the price of bitcoin, ethereum, and other cryptocurrencies shifted in January

Bitcoin BTCUSD and ethereum ETHUSD have exploded in popularity over the years, and are now traded by both regular investors and major corporations such as Citibank and Tesla TSLA. The overall crypto market cap exceeded $3 trillion in parts of 2021. Because of the bitcoin explosion, companies like Robinhood HOOD have seen an increase in cryptocurrency trading on their platform, as well as other brands like Walmart WMT to make crypto purchases available in store kiosks. As interest in cryptocurrency grows, so does interest in cryptocurrency pricing. Here’s how the cryptocurrency market moved in January:

Bitcoin

Bitcoin prices fell 18.36% in January, following a recent downward trend for the cryptocurrency, which began the year with its worst start in eight years. “There haven’t been any investors eager to come in and buy the dips like we had earlier this year,” Anthony Denier, CEO of trading platform Webull, told MarketWatch recently. “With little new capital entering the market, it’s difficult to predict when things will turn around. “Bitcoin prices may continue to fall, according to some analysts, as short-term prospects for bitcoin remain pessimistic. Russia’s central bank issued a critical assessment on cryptocurrencies, including a potential ban on mining and trade, which may have increased to the short-term fears for bitcoin and other cryptocurrencies. In November 2021, NFL player Odell Beckham Jr. made waves when he decided to convert his $750,000 paycheck to bitcoin. Beckham lost a significant amount of his compensation as a result of the relocation and subsequent drop in bitcoin pricing. Bitcoin has gained 17.76 percent in the last year.

Ethereum

Ether prices fell in January, much like bitcoin. In January, Ether prices plunged 25.59 percent and dipped below $3,000, marking the cryptocurrency’s third consecutive month of losses. Ethereum is the coin to watch in 2022, according to Benchmark Investments CEO Kevin Kelly, who told MarketWatch in January. “We believe that as the world continues to digitize, ethereum will be the network for it,” Kelly added. Kelly also believes that smart contracts created on the Ethereum blockchain are more useful than bitcoin’s, and that ethereum values will eclipse bitcoin’s in 2022. Kelly stated, “We certainly believe” it will happen this year. In other blockchain-related news from January, NBA star LeBron James teamed up with Crypto.com to teach at-risk kids about cryptocurrencies and blockchain technology. In the last 12 months, Ethereum has increased by 112.83%.

Dogecoin

In January, the price of dogecoin DOGEUSD fell 17.37 percent. Elon Musk was tweeting about dogecoin once again, suggesting that if fast food giant McDonald’s MCD started accepting dogecoin as a payment option, he would eat a happy meal on TV. On its online stores, Tesla accepts dogecoin for some products. Dogecoin prices are now hovering around $0.143, down from an all-time high of $0.692 in May 2021.

Other crypto news

According to the most recent data from Coinbase COIN, Solana SOLUSD prices fell 36.73 percent in January. Solana Labs CEO Anatoly Yakovenko said the platform is still going through “growing pains” as it scales to meet demand, citing recent network performance concerns as an example. Although Cardano ADAEUR prices remained over 1.00 in January, they nonetheless fell 19.38 percent. Crypto jobs are on the rise, despite falling prices. According to a new analysis, crypto-related job opportunities increased by 395 percent in 2021, with locations such as Miami, Austin, and Denver emerging as new crypto centers.

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