Thanksgiving in the United States is more than just a feast—it’s a time for family, reflection, and, increasingly, financial conversations. Over turkey and pumpkin pie, discussions often drift from holiday plans to job updates—and in recent years, to investments like Bitcoin, Ethereum, and Dogecoin. If you were the one encouraging your relatives to dive into crypto during last year’s holiday dinner, you might be wondering: Were you right? Or did your advice turn into a cautionary tale?
Let’s take a clear-eyed look at how these major cryptocurrencies have performed since Thanksgiving 2022—and what that means for your family’s portfolio today.
The Crypto Landscape Since Thanksgiving 2022
The holiday season of 2021 saw cryptocurrency markets near their all-time highs. Bitcoin had just touched $69,000, Ethereum soared past $4,800, and Dogecoin—fueled by memes and celebrity endorsements—was riding a wave of speculative frenzy. By Thanksgiving 2022, however, the mood had shifted dramatically.
The crypto winter had set in. Major platforms had collapsed, investor confidence was shaken, and prices had plummeted. For many, the dream of quick digital riches had turned into a stressful reality check.
But here’s the twist: investing on Thanksgiving 2022 turned out to be a surprisingly strong entry point.
While the prior year’s peak made 2021 a poor timing choice, those who bought in at the end of 2022 have seen substantial gains as the market began its recovery through 2023 and into 2025.
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How $1,000 in Each Major Cryptocurrency Performed
Let’s break down what would have happened if your family members took your advice and invested $1,000 each in Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) on Thanksgiving Day 2022.
Bitcoin (BTC): A Strong Recovery
At the time, Bitcoin was trading around $16,738**. A $1,000 investment would have bought approximately 0.0596 BTC**.
Fast forward to today, with Bitcoin hovering near $37,470**, that same holding is now worth **$2,233.20—a gain of 123.3% in under 14 months.
Bitcoin continues to solidify its role as digital gold, benefiting from increased institutional adoption, regulatory clarity in key markets, and the upcoming halving event expected to tighten supply.
Ethereum (ETH): Innovation Drives Value
Ethereum was priced at about $1,231** on Thanksgiving 2022. With $1,000, an investor could have acquired 0.812 ETH** (slightly adjusted for real-time data fluctuations).
Today, Ethereum trades around $2,066**, making that investment worth approximately **$1,705.09—a solid 70.5% return.
This growth reflects Ethereum’s ongoing evolution: the shift to proof-of-stake, layer-2 scaling solutions, and growing use in decentralized finance (DeFi) and non-fungible tokens (NFTs) have kept it at the forefront of blockchain innovation.
Dogecoin (DOGE): The Meme That Keeps Going
Dogecoin was valued at roughly $0.0708** in November 2022. A $1,000 investment would have netted about 14,124 DOGE**.
As of now, Dogecoin sits at $0.076**, giving that investment a current value of **$908—a modest 9.2% loss.
While Dogecoin lacks the technological upgrades of Ethereum or the scarcity narrative of Bitcoin, it remains a cultural phenomenon with strong community support and occasional spikes driven by social media sentiment.
Total Portfolio Performance: $3,000 Invested
Combining equal $1,000 investments across all three:
- Bitcoin: $2,233.20
- Ethereum: $1,705.09
- Dogecoin: $908.00
- Total: $4,846.24
That’s a 61.5% overall return on a $3,000 investment—far outpacing traditional markets.
For comparison, a $3,000 investment in the **SPDR S&P 500 ETF Trust (SPY)** over the same period would have grown to about **$3,385.35, or a 12.8% return**.
This stark contrast highlights crypto’s potential for high reward—even amid volatility—when entered at strategic points.
Frequently Asked Questions (FAQ)
❓ Did investing in crypto on Thanksgiving 2021 perform poorly?
Yes. Investors who bought Bitcoin, Ethereum, or Dogecoin at Thanksgiving 2021—near market highs—saw significant declines by 2022. Bitcoin dropped over 72%, Ethereum over 72%, and Dogecoin over 64% within a year due to market corrections and sector-wide turmoil.
❓ Is now a good time to invest in cryptocurrency?
Market timing is always uncertain. However, fundamentals such as growing blockchain adoption, regulatory progress, and macroeconomic trends like inflation hedging suggest long-term potential. Dollar-cost averaging can help reduce risk for new investors.
❓ Why did Bitcoin outperform other cryptos recently?
Bitcoin’s scarcity (capped supply of 21 million), increasing institutional interest (e.g., spot Bitcoin ETFs), and its perception as a store of value have driven demand. The upcoming halving event in 2024 further fuels bullish sentiment by reducing new supply.
❓ Can Dogecoin ever recover its meme-driven momentum?
It’s possible. Dogecoin thrives on viral attention—especially from high-profile figures on social media. While it lacks advanced use cases compared to other blockchains, community-driven campaigns and payment integrations could spark renewed interest.
❓ Should I diversify across multiple cryptocurrencies?
Diversification helps manage risk. While Bitcoin and Ethereum offer more established value propositions, including smaller-cap assets requires careful research. Allocating based on risk tolerance—not hype—is key.
👉 Learn how to build a balanced crypto portfolio with real-time data and tools.
Lessons Learned from Holiday Crypto Talks
Your Thanksgiving crypto pitch might have been met with skepticism last year—but hindsight shows it wasn’t a bad call at all. In fact, advising investment at the tail end of a bear market proved prescient.
Key takeaways:
- Timing matters more than sentiment: Buying when fear is high often leads to better long-term outcomes.
- Education builds trust: Helping family understand blockchain basics reduces emotional decision-making.
- Volatility is normal: Crypto moves fast—both up and down. A long-term perspective smooths out the ride.
Final Thoughts: From Dinner Table to Digital Wealth
The conversation you started last Thanksgiving may have seemed risky at the time. But with Bitcoin up over 120% and Ethereum gaining more than 70%, your advice could now be seen as forward-thinking.
Crypto remains speculative, but it's also becoming integrated into mainstream finance. Whether through ETFs, payment systems, or decentralized applications, digital assets are here to stay.
As another holiday season approaches, you might not need to convince your family twice.
👉 Stay ahead of the next market move with advanced trading tools and insights.
Remember: past performance doesn’t guarantee future results. Always do your own research and consider consulting a financial advisor before making investment decisions.
But if you're ready to explore what’s next in crypto—this Thanksgiving might be the perfect time to begin.