Bitcoin YTD Performance Exceeds 140%, Outperforms Most Traditional Assets

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The Rundown

  • Bitcoin YTD Performance over 140%
  • BTC on Track to Become 2019’s Best-Performing Asset

The year 2019 is coming to an end. So, it is time to mark a milestone, pause for reflection, and take stock of how bitcoin did this year versus 2018. The good news is that BTC had a remarkable recovery in 2019. And once again, the king of cryptocurrencies is outperforming the traditional asset class.


Bitcoin YTD Performance over 140%

Bitcoin ended the year 2018 on a painful downward trend. After having reached an all-time high of $20,000 in 2017, the cryptocurrency dramatically dropped to below $3,800 at the end of 2018.

Now, the outlook for BTC appears brighter this year. Bitcoin price ended October 2019 on a pretty bullish note. By rising from a five-month low under $7,500 and returning firmly to its path toward smashing the $10,000 price mark.

To continue the story further, this year, bitcoin is significantly outperforming not only other cryptocurrencies but also key traditional assets.

Indeed, the number one cryptocurrency’s YTD performance of ~140% outshines Nasdaq 100 (28.93%), IBM (19.23%), Apple (62.8%), and oil (21.06%).

Most notably, gold, Bitcoin’s competitor as a safe-haven investment, has only registered 14.53% gains YTD .

BTC on Track to Become 2019’s Best-Performing Asset

With its spectacular performance, bitcoin certainly already merits the title of 2019’s best-performing asset.

Most importantly, in spite of volatility, and remaining well below its 2019 high of over $12,500, data suggests that BTC’s recovery is just getting started. For example, as of this writing, Bitcoin is hovering around $9397.02 +0.33%. For many, this price indicates that crypto winter is over. In effect, Delphi Digital’s BTC latest monthly outlook report concludes,

After continuously declining since the YTD price peak in June, the volume has come back to life in this recent resurgence, giving credence to the idea that the bottom is behind us.

Other indicators too suggest bitcoin’s 2019 return to bullishness as well as the strengthening of its network. In this regard, Anthony Pompliano, co-founder and partner at Morgan Creek Digital, pointed out,

195 days until the next Bitcoin halving. Less than 3 million Bitcoin left to mine. Hash rate keeps hitting all-time highs. We are watching the strongest computer network in the world continue to get stronger and stronger.

Read more at: https://bitcoinist.com/bitcoin-ytd-performance-exceeds-traditional-assets/

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