Crypto Has Been Through the Wringer in 2022: What Now?

With prices of Bitcoin, Ethereum and other cryptocurrencies down, you may be tempted to give it a try. The best advice for those who are curious may be to tread lightly, and make sure you understand what you’re getting into.

A scene with a blue sky and clouds has an open door cut into it in this photo illustration.
(Image credit: Getty Images)

Cryptocurrencies, or digital assets, have gone through a lot of turmoil so far in 2022. Since their high-water mark in late 2021, major assets like Bitcoin and Ethereum have seen dramatic pullbacks in prices. These pullbacks created a chain reaction in other areas of the digital asset market, which ultimately led to the bankruptcy of several crypto platforms – and a crash that wiped out the value of a few large cryptocurrencies.

Many coins have seen massive price drops since their all-time highs and have not recovered. As an investor, how should you approach crypto now?

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Shane W. Cummings, CFP®, AIF®
Wealth Adviser and Director of Technology/Cybersecurity, Halbert Hargrove

Shane W. Cummings is based in Halbert Hargrove’s Denver office and holds multiple roles with Halbert Hargrove.  As Director of Technology/Cybersecurity, Shane’s overriding objective is to enable Halbert Hargrove associates to work efficiently and effectively, while safeguarding client data.  As wealth adviser, he works with clients in helping them determine goals and identify financial risks, creating an allocation strategy for their investments.