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Published: Nov 22, 2022 3 min read

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Ominous illustration of a giant bitcoin sinking in a sea of red- illustration is a parody of The End of Evangelion poster
Rangely García for Money

2022 just keeps getting worse for cryptocurrency investors.

More than half of all bitcoin investors are now in the red, according to data from blockchain analytics platform IntoTheBlock. As of Tuesday morning, 54.5% of all bitcoin addresses were categorized by IntoTheBlock as “out of the money,” meaning that the bitcoin held by that investor is worth less now than it cost on average.