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Barchart
Barchart
Andrew Hecht

Bitcoin and Ethereum Shine In Q1 2023

Bitcoin Ethereum Crypto ETF

In 2022, Bitcoin fell 64.02%, Ethereum dropped 67.23%, and the cryptocurrency market cap lost 63.33% of its value from the level on December 31, 2021. The losses from November 2021 through the November 2022 lows were even worse. However, the asset class reached a significant bottom in November 2021 and recovered by the end of last year. In Q1 2023, the prices exploded higher, with Bitcoin and Ethereum outpacing the asset class’s overall gains. Bitcoin, the leading crypto, rose more than Ethereum on a percentage basis. 

Shares in the Bitwise Crypto Industry Innovators ETF (BITQ), Coinbase (COIN), a leading cryptocurrency platform, and the ProShares Bitcoin Strategy ETF (BITO) posted gains in Q1 2023. 

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