Cryptocurrencies like bitcoin
BTCUSD
and ether
ETHUSD
have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla
TSLA
and Citibank .
The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood
HOOD,
Coinbase
COIN
and Crypto.com capitalized on higher volume of crypto trading.
As the interest in crypto continues to rise, so does the interest in crypto prices.
Here’s how crypto prices changed in May 2022:
Bitcoin
Prices for bitcoin dropped 20.08% lower during May, continuing a soft 2022 for the crypto.
Despite bitcoin’s lower prices, not many investors are trying to “buy the dip,” according to a note on Tuesday by Glassnode.
“The recent sell-off, and lower prices has not yet inspired an influx of new users to the space, and only the HODLers remain,” the analysts wrote. HODLers is slang for people who buy crypto with no intention of selling.
One bitcoin forecaster recently told MarketWatch that he sees a potential eclipse-like event in the next few years for bitcoin that could lead to the crypto’s price moving over $100,000 by 2024.
But during an interview with CNBC, former chairman of the Federal Reserve Ben Bernake said he doesn’t think bitcoin will take over “as an alternative form of money.”
Bitcoin is down 15.75% over the past 12 months at the time of this writing.
Ethereum
Prices for ether decreased 33.07% during the month of May, continuing a downward trend for the crypto in 2022.
Paul Brody, global blockchain head at Ernst & Young Global, said he believes Ethereum will eventually “take over everything,” despite increased blockchain competition from Cardano
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![Anticipation for Ethereum [ETH] 2.0 rises as metric reaches all-time high](https://crypto.newswireservice.net/wp-content/uploads/2023/01/ethereum-wale-1000x600-350x250.jpg)
