For many Americans, Thanksgiving is a time for family gatherings, festive meals, and lively conversations. In recent years, one topic that has likely come up around the dinner table is cryptocurrency. If you encouraged your relatives to invest in Bitcoin, Dogecoin, or Ethereum during last year’s Thanksgiving, here’s a breakdown of how those investments would have performed.
Cryptocurrency Performance Since Thanksgiving 2022
The cryptocurrency market has seen significant volatility since its peak in November 2021, when Bitcoin and Ethereum hit all-time highs, and Dogecoin surged dramatically. By Thanksgiving 2022, prices had plummeted, leaving many investors wary. However, those who entered the market during the 2022 holiday season may now be seeing substantial gains.
Key Trends:
- Bitcoin (BTC): Up 123.3% since Thanksgiving 2022.
- Ethereum (ETH): Up 70.5% over the same period.
- Dogecoin (DOGE): Down 9.2%, reflecting its higher volatility.
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Hypothetical Investment Scenarios
Let’s explore how a $3,000 investment split evenly among Bitcoin, Dogecoin, and Ethereum would have fared:
Bitcoin:
- Investment: $1,000 bought 0.0596 BTC.
- Current Value: $2,233.20 (as of November 2023).
Dogecoin:
- Investment: $1,000 bought 11,947.43 DOGE.
- Current Value: $908.00.
Ethereum:
- Investment: $1,000 bought 0.8253 ETH.
- Current Value: $1,705.09.
Total Return: $4,846.24 (61.5% growth), outperforming the S&P 500’s 12.8% gain.
Why Cryptocurrency Remains a Hot Topic
Despite its roller-coaster nature, crypto continues to captivate investors due to:
- Decentralization: Freedom from traditional banking systems.
- High Reward Potential: As seen in the 2022–2023 rebound.
- Cultural Momentum: Endorsements from figures like Elon Musk keep Dogecoin in the spotlight.
👉 Learn how to start investing in crypto
FAQs About Cryptocurrency Investments
Q: Is it too late to invest in Bitcoin?
A: While BTC has surged, many experts believe it’s still early in its adoption curve.
Q: Why did Dogecoin underperform?
A: Meme coins like DOGE are highly speculative and lack the utility of BTC or ETH.
Q: How safe is Ethereum?
A: ETH’s smart contract functionality makes it a safer long-term bet than most altcoins.
Final Thoughts
Cryptocurrency remains a polarizing yet profitable asset class. If your family took your advice last Thanksgiving, they’re likely thanking you now—unless they invested solely in Dogecoin. Always encourage diversified investments and thorough research.
Disclaimer: 82% of retail CFD accounts lose money. Cryptocurrency investments are high-risk.
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