After its launch in December 2019, the value of Hex roughly doubled every 48 days, earning it the nicknames “shining city on a hill” and “winning horse.” Investors who bought Hex at its inception saw their initial investment grow until the cryptocurrency’s all-time high of $0.51 was reached in September 2021. Unfortunately, this cannot be said for token holders as Hex continues its downward trend.
The price of this cryptocurrency doubled 13 times in 21 months between 2020 and 2021, making it possibly the only cryptocurrency to achieve such a feat. To see exactly when the price of Hex doubled from January 2020 to September 2021, refer to the timeline below.
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If You Invested $1,000 in Hex in 2020, How Much Is It Worth Now?
In the month of January 2020, hex could be purchased for a price of $0.00011. That would cause buyers to stockpile over nine million tokens for less than a thousand dollars in the past. Hex is currently trading at a price of about $0.040 as of November 4, 2022. Given this, $1,000 invested in January 2020 would be worth $363,636 as of Friday.
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But when Hex reaches its PHI of $0.51 in September 2021, that same $1,000 will be worth $4,636,363 ($4.6 million). Those who were able to predict market fluctuations and sell at the peak made enormous profits. Now that the downturn has slashed profits significantly, it’s clear that “holding on” can be a poor strategy as well.
More than 85% of its value has been erased since its all-time high, and the token is having trouble recovering. The price of Hex has doubled in the past 14 months, but it has since fallen to new lows.
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Hex was up 2.1% in the prior day’s trading, closing at $0.04 at press time. Since a year ago, the asset is down 82.3% and could fall further due to the bearish market.
Source: Watcher
Disclaimer: This opinion is not meant to be taken as financial guidance and is presented merely for educational purposes. Crypted Crypto cannot guarantee that it accurately represents the views of the publication. You should always do your own research before making any financial decisions, as every investment and every trade carries some degree of risk. If you cannot afford to lose the money you invest, then you should not invest it.
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