Interest in Bitcoin Soars in 2022 as Industry Enters Latest ‘Crypto Winter’: Morning Brief

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Thursday, December 22, 2022

Today’s newsletter is up to Jared Blikre, a market-focused reporter at Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go Yahoo Finance App.

Crypto winter be damned — bitcoin and ethereum investors are still laser-focused on an industry in freefall rocked by bankruptcies.

At least that’s what at least one internal Yahoo Finance metric reveals as investors continue to check out low cryptocurrency prices at a high rate as 2022 draws to a close.

Despite the entire crypto asset class seemingly teetering on the brink of collapse — or perhaps because of it — Yahoo Finance’s bitcoin quotes page (BTC-USD) has garnered more than 157 million views so far in 2022, making it #8 on the annual list of the ten most popular tickers.

And in a year where war broke out in Europe, historic rate hikes from the Fed have been surprising all summer, and investors are going through the worst stock market environment in more than a decade.

Unsurprisingly, perennial favorite Tesla (TSLA) tops the list.

The major U.S. indices, plus Apple ( AAPL ) and Amazon ( AMZN ), also outperformed bitcoin in terms of clicks.

But the leading crypto ticker managed to beat out chipmaker Nvidia (NVDA), as well as 2021 favorite GameStop (GME), rounding out the top ten.

During previous crypto winters, user interest in Yahoo Finance crypto sites simply dropped.

For several years, not a single crypto ticker made it to Yahoo Finance’s list of the top 10 most popular tickers on the seven-day rolling average.

However, bitcoin rebounded in the first week of 2021 after the price of the world’s largest cryptocurrency rose to new record highs — finally signaling that the sector has emerged from the previous crypto winter.

Bitcoin hit its most recent all-time high late last year, and interest in the ticker dipped slightly with the price during the first few quarters of 2022 — only to rekindle during the Terra-Luna debacle over the summer.

Feel free to attribute some interest rates as inexorable, but the resilience of crypto interest comes with a bit of irony. Many would-be bitcoin HODLers struggle with the reality that in some cases the only thing “holding” their cryptocurrency is a foreign entity embroiled in bankruptcy court.

And for investors who might quickly turn the page on 2022, the saga only intensifies as we head into the new year. With the former number two exchange, FTX, down and out, the industry is now looking for cracks in the only remaining giant, Binance.

Either way, 2023 promises to deliver more life-or-death crypto news for investors to hit the refresh button.

But one has to wonder if it will be any stranger than the walk of perpetrators Sam Bankman and Fried. Stay with us.

What to watch today

economy

  • 8:30 a.m. ET: GDP on an annual basisquarter-on-quarter, third estimate for Q3 (expected 2.9%, previously 2.9%)

  • 8:30 a.m. ET: Personal consumptionquarter over quarter, third estimate for Q3 (expected 1.7%, previously 1.7%)

  • 8:30 a.m. ET: GDP price indexquarter-on-quarter, third estimate for Q3 (expected 4.3%, previously 4.3%)

  • 8:30 a.m. ET: Core PCEquarter-on-quarter, third estimate for Q3 (expected 4.6%, previously 4.6%)

  • 8:30 a.m. ET: Initial claims for the unemployedweek ended December 17 (222,000 expected, 211,000 during previous week)

  • 8:30 a.m. ET: Permanent receivablesweek ended December 10 (expected 1.678, 1.671 million during previous week)

  • 10:00 a.m. ET: Leading indexNovember (-0.5% expected, -0.8% during the previous month)

  • 11:00 a.m. ET: Kansas City Index of ManufacturingOctober (-7 expected, -6 during the previous week)

Earnings

  • CarMax (KMX), Apogee Enterprises (APOG), Paychex (PAYX)

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