Bitcoin has fallen more than 6% in the last seven days, losing more than 1% in the first day and a half of 2022, according to Coingecko. The largest cryptocurrency is about $ 47,000 by market capitalization.
Bitcoin hit a monthly high two days after Christmas, when it rose to its highest price in three weeks at $ 52,050. Ethereum had similar impressions, but failed to break above $ 4,120. In the days that followed, both BTC and ETH struggled, falling nearly 7% in seven days.
But Ethereum starts 2022, up 1.5% over the last 24 hours, while BTC is down.
Big altcoins have dropped dramatically in the last seven days: Solana and Polygon lost more than 10%, and Terra lost 9%. The two major meme currencies, DOGE and SHIB, are down about 9% and 13%, respectively.
so, what happened? Given that all of these bases saw significant growth at the end of 2021, particularly Terra and Polygon in December, a price correction was expected.
Overall, it is a slow start to the year in terms of price, but with the increasing acceptance of cryptocurrencies by institutions, we expect 2022 to be just as positive as 2021. The question is whether this will be an ETH year, or another year. hype cycle from doggy corneror a new boom of Solana, Avalanche and other smart contract blockchains, or something completely different.