2022 a Volatile Year for Financial Markets: BTC Down 65%, ARKK, MSTR, and COIN Faring Worse
• BTC fell by 65.38% YTD, while ARKK, MSTR, and COIN lost 67.79%, 74.64%, and 85.90% in value, respectively.
• DXY and Gold are the only assets included in this analysis that recorded an increase.
• 2022 was the second-worst year for BTC, falling by 65%.
This year was a tumultuous one for financial markets, as the COVID-19 pandemic created an unprecedented level of economic uncertainty. Despite the global economic uncertainty, there were still some assets that performed better than others. This article takes a look at the performance of Bitcoin (BTC), Ark Innovation ETF (ARKK), MicroStrategy Inc. (MSTR), and Coinbase Global Inc (COIN) in 2022.
The data from Glassnode reveals that BTC fell by 65.38% year-to-date (YTD). This performance was better than ARKK, MSTR, and COIN, which lost 67.79%, 74.64%, and 85.90% in value, respectively. Meanwhile, the U.S. Dollar Index (DXY) and Gold recorded an increase. Gold was up by 1.25% YTD, while DXY’s price increased by 7.55%. British Pound (GBP) and Euro (EUR) also ended the YTD period in the negatives.
In mid-September, GBP dropped to all-time lows against the U.S. dollar. GBP volatility soared so much afterward that BTC became a more stable asset than the pound in October. Ethereum (ETH) also followed BTC’s downward trend and recorded a 68.32% decrease YTD.
According to a recent report from Arcane Research, 2022 was the second-worst year for BTC. The worst year for BTC was still 2018, when the price recorded a 73% decrease. Despite this, BTC still performed better than ARKK, MSTR, and COIN in 2022.
Overall, the performance of different assets in 2022 has been quite varied. While some assets like BTC, ARKK, MSTR, and COIN have seen significant losses, others like Gold, DXY, and GBP have seen gains. It remains to be seen how these assets will fare in the next year.