Summing up the returns as on the finish of the third quarter, Bitcoin is the best-performing asset year-to-date regardless of the September crash.
Bitcoin is the Indisputable Winner
On January 1, the oldest cryptocurrency on the market began at $3,746, based on Coinmarketcap data. At the time of writing, Bitcoin is buying and selling at round $8,204 as at 01:34 PM UTC. This suggests a 119% year-to-date acquire, which makes BTC the perfect performing asset thus far.
The likelihood is that the cryptocurrency will hold this label until the tip of the 12 months.
Bitcoin nearly touched the $14,000 stage on the finish of June. However, the digital foreign money left the YTD peak to type a descending triangle that was lastly damaged under in September. In truth, final month Bitcoin had its worst four-weeks since November 2018 and one in all its worst quarters ever by way of share efficiency. Despite that, the king of crypto continues to dominate the area and present greater returns than traded corporations, commodities, and different property.
Interestingly, Bitcoin is nonetheless the primary violin of the crypto area because the long-awaiting altcoin season hasn’t really started but.
Major Assets Are Not Even Close
So how does BTC examine to different property? Well, for those who verify gold, an asset that shares some similarities with Bitcoin by way of shortage and use, you’ll see that it shows a 16% YTD return. The commodity has benefited from the Sino-US commerce battle, Brexit uncertainty, and geopolitical tensions.
Elsewhere, Nickel is the perfect performer amongst commodities, gaining over 63% since January 1.
The S&P 500 index has elevated by greater than 20% because the begin of the 12 months. This is a wonderful outcome for the US inventory market index, which up to date the report excessive a number of occasions however it’s nonetheless not sufficient to compete with Bitcoin. Here is how the cryptocurrency compares to S&P 500, NASDAQ, oil, and gold:
BTC’s efficiency and volatility stage show that it doesn’t correlate with conventional property, which makes it an ideal diversification possibility.
While Bitcoin has proven the perfect outcomes amongst main property, there are some high-risk property with higher returns, resembling lesser-known tokens or penny shares.
Do you assume Bitcoin would be the greatest performing asset in 2020 as nicely? Share your ideas within the feedback part!
Images through Shutterstock, BTC/USD chart by TradingView