Cryptocurrencies are crashing in value with fear of higher inflation and holders liquidating positions. Here’s a look at how much a small investment in a leading cryptocurrency could be worth if all-time highs are hit once again.
What Happened: Bitcoin BTC/USD is among the cryptocurrencies seeing its value fall double-digits Monday. The price of Ethereum ETH/USD has fallen to levels that are nearing 52-week lows.
Bitcoin is trading at $23,427.54 at the time of writing, down 16% in the past 24 hours.
Over the past 52 weeks, Bitcoin has traded between $22,812.38 to $68,789.63. The cryptocurrency marked new 52-week lows on Monday.
Bitcoin, the leading cryptocurrency by market capitalization, hit all-time highs on Nov. 10, 2021. The coin traded over the $60,000 level several times in the month of November 2021 and fell just shy of hitting a potential meme amount of $69,420.
Related Link: How To Buy Bitcoin
Investing $100 In Bitcoin: A $100 investment in Bitcoin today could purchase .004268 BTC.
The $100 investment would be worth $293.59 if Bitcoin returns to all-time highs, representing a return of 194%.
There is no guarantee that cryptocurrencies will return to levels seen last November. The article is an exercise to demonstrate how a small investment could add up over time if cryptocurrency can bounce back.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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