It has been a roller coaster ride for crypto investors this 2022. This month, total crypto market capitalization fell from around $2.2 trillion at the start of the year to approximately $850 billion.
Several high-profile this year exacerbated the precipitous decline in valuation.
The market for cryptocurrencies is still consolidating, with the majority of assets unable to make large gains.
Despite the current crypto winter, cryptocurrencies remain by far the most profitable asset class for investment, with the ability to recover losses and hit record highs in the long run.
Currently, investors anticipate that the cryptocurrency market will strive to end the large sell-offs in 2023.
A lengthy crypto winter tends to test the patience of investors, but it is one of the finest opportunities to purchase good cryptocurrencies at a discount.
Meanwhile, there is continued curiosity in how particular crypto assets will end 2022, as their price movement will provide insight into what to expect in the following year.
Here are five cryptocurrencies to keep an eye on for the week of December 26.
Bitcoin (BTC)
The year has not been kind to the cryptocurrency with the largest market capitalization. Since the start of 2022, bitcoin has lost more than 60 percent of its value.
Because of this, over 50% of BTC investors are currently losing money, causing the market to crash. Nevertheless, a number of evidence imply that bitcoin will make a strong comeback in 2023.
As of this writing, is trading at $16,864, up 0.7% in the last seven days, from Coingecko shows.
Benjamin Cowen, a well-known cryptocurrency specialist, predicted that once bitcoin bulls seize control of the market, a “long accumulation period” will commence.
The current price of Ethereum is $1,221, an almost 3% increase over the past week. The 24-hour low is $1,203 and the 24-hour high is $1,222. The cryptocurrency is up 0.1% on the one-hour and 24-hour time frames.
The Ethereum Exchange Reserve for All Exchanges measure reveals the ETH reserves on CEXs have decreased by more than a quarter, according to on-chain data. Thus, investors are acquiring Ethereum and are becoming more bullish.
At the time of writing, the bulls must demonstrate a strong push and consolidation above the $1,230 zone before a countertrend strategy can be considered. The next bullish objective would be $1,300 and possibly $1,350.
Cardano (ADA)
Despite the turmoil of 2022, Cardano’s (ADA) onchain activity has continued to reach new benchmarks.
Cardano smart contracts surpassed 4,400 this year, a 395 percent increase, and 57 million transactions were conducted, an increase of approximately 140 percent.
At the time of writing, was trading at $0.26, up 0.2% in the last 24 hours, after a nearly 3% weekly chart correction.
Despite its poor performance, ADA remains among the top 10 largest cryptocurrencies by market capitalization, with around $9 billion valuation.
Crypto total market cap at nearly $772 billion on the daily chart | Chart:
Polygon (MATIC)
Several major cryptocurrencies are expected to drop below their most recent lows, but MATIC has outperformed as it attempts to establish a stable foundation well above its annual bottom.
In its first few months of existence, the price of was very constant, fluctuating between $0.01 and $0.03.
MATIC’s price, up 0.9% in the last 24 hours and trading at $8030, reached an all-time high of approximately $1.40 in late 2020, one year after its launch, as the entire cryptocurrency market began to recover.
This signified a tremendous rise of more than 4,600% in comparison to its initial price.
Since the all-time high of $1.98 was achieved in April 2021, the price has lost 80% of its market value.
The XRP community awaits the judgement in the case between Ripple and the Securities and Exchange Commission (SEC).
The ultimate verdict is likely to have an effect on the price of XRP, which has shown brief forays into the green zone despite an extended difficult market.
Bulls are aiming for a post-Christmas breakout as the XRP price rallies to $0.35 at press time.
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
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Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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