Catch up on the latest crypto prices to polish off the year – Crypto Price Index (Wk 51 2022) especially for cryptocurrency casino enthusiasts. (Photo by Kanchanara on Unsplash)
Welcome to the final cryptocurrency report of the year – Crypto Price Index (Wk 51 2022). Don’t worry, we’ll be back for more next year with a bi-weekly report keeping you up to date with the latest ups and downs in the most unpredictable financial vertical.
The fallout from the FTX debacle continues to rattle the crypto market but there seems to be some light at the end of the tunnel for some of the cryptocurrencies. FTX co-founder Sam Bankman-Fried has been extradited to the U.S. from the Bahamas and has been released on bail by his parents for $250 million dollars!!!
The bail was secured by the equity on their Palo Alto home and has to be sorted by 12 January 2023. The terms of his release are quite complicated and it is subject to many requirements.
Over in the crypto market held back by his company’s failure has shown some stability over the past couple of weeks, so is that bull run every predicted prior to the FTX crash back on the cards? Well, in this volatile market of digital assets, who know. However, what we can do is keep checking on the values of the main ones used to play online casino games and hope to spot a trend.
For now though, and as we have been learning over the past few months, this market is a true gamble and could go either way as there are no RTPs or variance – in case you are wondering what I am talking about, check out this guide to variance and how important it is when playing online casino games.
Stability for Now – Will it hold over the Christmas and New Year period?
While we’re unwrapping our gifts and then looking forward to New Year celebration, we will likely take that one always on crypto off the charts and rest until 2023 kicks in. I truly hope that means when I come back with my next crypto report, there have been no drops, and even better signs of a reversal to the disastrous FTX price weight we’ve seen tumble the value of the market.
For this report, the cryptocurrencies we will review are Bitcoin, Ethereum, Ripple, TRON, Litecoin, Dogecoin and Bitcoin Cash and we will try to determine where they might be headed. Bitcoin and Ethereum, the biggest players in the market have lost over 64% of their value since January 2022, but had also hit their all-time highs in 2021. To predict their fluctuations and where they will be long term is difficult to determine but the SEC will have a firm hand moving forward.
The SEC will continue providing guidance through current regulation and perhaps by introducing new regulations/guidelines. The SEC will try to stop the domino effect that a single coin crash can cause in the cryptocurrency market.
Let’s take a closer look at the price in the final Crypto Price Index (Wk 51 2022) report of the year…
Bitcoin (BTC) – BTC is still trading below $17,000 USD and the current price is $16,824 USD. Retail investors have pulled back on this coin as there is not much compelling positive news to boost this coin. Historic BTC investors (long term), on the other hand, have been buying the dips as they sense that the bull market is just around the corner and feel that as the global economy improves, BTC with follow.
- Current: $ 16,824
- 1 Jan 2022: $ 47,733
- Yearly Gain/Loss: -$30,909
Bitcoin Cash (BCH) – This peer-to-peer electronic cash coin continues to slide and has lost 77% of its value since last January. It is currently trading at $101.83 USD and looks to go lower as other similar coins in the market move into this electronic cash payment arena.
- Current: $ 101.83
- 1 Jan 2022: $ 445.07
- Yearly Gain/Loss: -$ 343.24
Litecoin (LTC) – LTC is showing support around the $60 USD level and is currently trading at $66.10 USD. At the beginning of December LTC hit $80 USD and that appears to be the resistance level/bullish barrier. Bull traders need to reverse this trend before the coin breaks down and falls below $60 USD.
- Current: $ 66.10
- 1 Jan 2022: $ 150.83
- Yearly Gain/Loss: -$ 84.73
TRON (TRX) – TRON has made marginal gains in the last 5 days and its closing price yesterday was $0.055 USD. It has faired very well in the crypto universe and has only lost 28% of its value since the beginning of the year, surprisingly stable in comparison to its peers. Market analysts have bantered the thought of it reaching $1.00 USD in the near future based on its solid design and utility in the decentralized application arena.
- Current: $0.055
- 1 Jan 2022: $ 0.077
- Yearly Gain/Loss: -$ 0.022
Ripple (XRP) – This altcoin continues to slide as they await the verdict from the SEC lawsuit. This highly scrutinized crypto legal battle continues to rage on after 2 years with no end in sight. The SEC alleges Ripple sold unregistered securities and is seeking charges against XRP and its executives. XRP has had a few minor wins but because many cryptocurrency exchanges have delisted XRP, the stock price has collapsed. The stock has lost 59% of its value since the beginning of the year but has been reasonably stable the last 6 months. It is currently trading at $0.35 USD.
- Current: $ 0.35
- 1 Jan 2022: $ 0.85
- Yearly Gain/Loss: -$ 0.50
Ethereum (ETH) – This is the second largest cryptocurrency and is also a yard stick for where the crypto market may be headed. Although it has lost more than half its value since last November, market analysts believe it has the potential to climb in 2023. Innovations in technology will make the network cheaper, faster and more efficient, what techies call “The Merge.” The price of ETH has held up admirably over the last 6 months and is currently trading at $1,220 USD and industry experts say that as the global economy improves ETH will be in a good position to grow because of their outstanding fundamentals.
- Current: $ 1,220
- 1 Jan 2022: $ 3,768
- Yearly Gain/Loss: –$ 2548
Dogecoin (USDT) – Dogecoin has experienced a downward spiral since December 1st and has lost 55% of its value since last January. It looked poised to make a run to new highs on December 4th but is currently trading at $0.077 USD and is struggling as the year comes to a close. The stock’s downward movement, 6.5% in the last 5 days, has been attributed to Dogecoin supporter Elon Musk, stating he would stepdown as the CEO of Twitter.
- Current: $ 0.077
- 1 Jan 2022: $ 0.17
- Yearly Gain/Loss: -$ 0.093
Looking for the best Cryptocurrency Casinos?
If you are looking to play video slots, virtual (RNG) table games, live dealer or any other online casino game titles, there are plenty of crypto bonus offers as well as online casino that accept cryptocurrency deposits and bets.
Some of the top brands know for crypto betting include Pragmatic Play, Play’n GO, Wazdan, BGaming, Playson, KA Gaming, Evolution (live casino), Pragmatic Play Live (live casino, Ezugi (live casino), and BetSoft. You will find crypto enabled versions of these software provider’s game at Curacao licenced casino only, while I advise staying away from any casino without a licence – there are plenty of them that accept crypto, but with no authority governing them, they could close your account after a big win. Find more about about using Bitcoin at online casinos here.
Disclaimer: This report is not for investment advice and we do not support investment in cryptos nor do we discourage it. The idea is to let you make your own mind up, while the information laid out on this page is to help our cryptocurrency players have another crypto resource or tool for price reminders.
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- Wazamba (SBC 2020 Award Winner)
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