Bitcoin Doubled Its Value in 2021, Then Nearly Lost It All In the First Month of 2022. Here’s a Look at Its Price Over the Years

time.com:

Bitcoin started 2022 nearly twice as valuable as it was in January 2021, capping a year that saw cryptocurrency explode in mainstream interest and curiosity. But before the first month of 2022 had ended, Bitcoin had nearly lost all of the previous year’s gains, dropping into the $33,000 range in January.

As more everyday investors wonder how cryptocurrency might fit into their portfolio, financial advisors have found themselves incorporating crypto into their guidance. “A lot of people bought cryptocurrency for the first time this year,” says Brittney Castro, a Los Angeles-based certified financial planner with Mint and founder of the media company Financially Wise.

Along with institutional adoption and government regulatory interest, these crypto newcomers are influencing the once-fringe crypto landscape and moving the needle toward mainstream adoption. “Fifty-one percent of Americans who own cryptocurrency bought it in the last 12 months,” says LisaLewis, a certified public accountant at TurboTax, citing data from a survey her company did earlier this year.

In most cases, and as many experts recommend, crypto newbies buy Bitcoin or the most popular altcoin (alternative coin), Ethereum. Bitcoin (BTC) reached an all-time high of over $68,000 in November 2021 after starting the year at just under $30,000, and the crypto industry as a whole grew to a total market cap of more than $2 trillion. Meanwhile, Ether (ETH), has shot up from about $737 to around $3,000, depending on the day. 

But here’s the thing about crypto: These prices can drop by 15% or more overnight or in a matter of hours. In fact, they commonly do. Volatility is a trademark feature of cryptocurrency, with a few exceptions like stablecoins. That’s why experts