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<\/figure>\n The news is filled with cryptocurrency hacks<\/a><\/span> and rug pulls<\/a><\/span> virtually every day. But what about those legitimate crypto coins that have been around for a while? They\u2019re not doing so hot either these days.<\/p>\n Over the weekend, bitcoin slumped below $34,000 for the first time since January<\/a><\/span>. In fact, it was six months ago today that bitcoin hit an all-time high of $68,990. And it\u2019s not just bitcoin. Almost every cryptocurrency has been struggling in 2022.<\/p>\n What if you bought your crypto on November 9, when bitcoin hit a record high and many popular media outlets seemed convinced the world\u2019s most popular crypto was heading to $100,000<\/a><\/span> or even higher<\/a><\/span> very soon? We did the math for the most popular coins, and it\u2019s not a pretty picture, with just one exception.<\/p>\n Where did all of that lost money go? It was cashed out for real money by people who purchased the cryptocurrency earlier than you and sold earlier than you.<\/p>\n Again, there are a lot of other cryptocurrency projects out there in the world. And if you were lucky enough to find one and make money, good for you. But you\u2019re definitely in the minority, as most retail investors lost money to cryptocurrency in 2022.<\/p>\n But not everyone has been suffering. The Ethereum Foundation sold 20,000 ether at a price of $4,722.68 per ether on November 11, 2021<\/a><\/span>, raking in over $94.4 million. That was almost Ethereum\u2019s all-time high, $4,891.70, achieved just a couple of days earlier on November 9.<\/p>\n Even gamblers know you\u2019re never going to beat the house. But that\u2019s not going to stop people from trying.<\/p>\n<\/div>\n\n