For many Americans across the country, meals will be eaten with families on Thursday to celebrate the Thanksgiving holiday. A topic of conversation might be dreaded by some family members.
What happened: Thanksgiving holiday traditions for many include watching parades, eating a delicious meal, watching football games, and spending time with family. Table conversation topics could include school, work, politics, and what many are probably dreading: subject of cryptocurrency.
Cryptocurrency markets were on the rise in November 2021 with Bitcoin BTC/USD and Ethereum ETH/USD reaching record prices and Dogecoin DOGE/USD still up sharply since the start of the year after falling by historic highs in May.
Family members discussing cryptocurrency were likely in favor of a new development or wondering if investing in crypto was risky.
Family members who have tried to convince loved ones to buy cryptocurrency might be hesitant to show up on Thanksgiving given the recent crash in the price of major cryptocurrencies.
The bankruptcies of Celsius and FTX cryptocurrency platform are among the biggest stories in the industry in 2022 and many are wondering if the cryptocurrency market is here to stay or could disappear.
Invest $1,000 in BTC, ETH, DOGE: If a parent finally got convinced and decided to invest in cryptocurrency for the first time on Thanksgiving Day of 2021, they’re down.
Here’s a look at how the investments would have fared over the past nearly year-long period, investing $1,000 in each of Bitcoin, Dogecoin, and Ethereum.
A $1,000 investment in Bitcoin on Thanksgiving 2021 could have bought 0.0168 BTC. The investment would be worth $276.74 today based on a price of $16,472.43 at the time of writing. The investment is said to be down 72.3% since the holidays last year.
A $1,000 investment in Dogecoin on Thanksgiving 2021 could have purchased 4,370.63 DOGE. The investment would be worth $354.02 today based on a price of $0.0810 at the time of writing. The investment would be down 64.6% since the holidays last year.
A $1,000 investment in Ethereum on Thanksgiving 2021 could have bought 0.2353 ETH. The investment would be worth $274.93 today based on a price of $1,168.41 at the time of writing. The investment is said to be down 72.5% since the holidays last year.
In total, a $3,000 investment in the three well-known and discussed cryptocurrencies would be worth $905.69 today, down 69.8%.
“There’s our little investor! Why don’t you come tell us about your investments!” pic.twitter.com/c6Dxaz237s
— Benzinga (@Benzinga) November 23, 2022