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The year 2018 has turned out to be a terrible year for the cryptocurrency markets, with a sharp drop in Bitcoin of nearly $ 20,000 at the end of 2017 to just over $ 3,000. , and many other cryptocurrencies recording losses of 90% or more from their peak in early 2018.
Despite this, 2019 announces it as a good year for the cryptography markets and, if they manage to maintain momentum, they may be able to continue to move closer to their established peaks, as the Year continues. .
Bitcoin (BTC) surpasses all other major investments
At the time of writing this report, Bitcoin is trading up more than 1% at its current price of $ 5,350. It is up from its weekly low of about $ 5,000, which had been set last week after Bitcoin did not exceed $ 5,400 and was in free fall.
Bitcoin started the year at about $ 3,746 and has since grown almost 43% from current price levels, making it the best-performing investment asset to date in 2019.
Last week, Charlie Bilello published a comparison on Twitter, pointing out that Bitcoin was the second best performing asset to date in 2019 behind oil. However, in the seven days since the publication of this comparison, BTC has continued its ascent and is now the top performing investment this year.
Returns 2019 …
Oil $ USO: + 38%
Bitcoin $ BTC: + 35%
Nasdaq 100 $ QQQ: + 21%
REIT $ VNQ: + 19%
MLP $ AMLP: + 18%
Lowercase $ IWM: + 18%
S & P 500 $ Spy: + 17%
EM $ EEM: + 14%
EAFE $ EPT: + 13%
Basic products $ DBC: + 13%
High efficiency $ HYG: + 9%
Investment grade $ LQD: + 6%
Obligations $ AGG: + 2%
Gold $ GLD: + 0.5%– Charlie Bilello (@charliebilello) April 13, 2019
At the time of writing, WTI crude oil is trading at 37 percent year-to-date, while the BTC is up 43 percent, as previously reported.
While heading to the traditional equity markets, which ended the year 2018 on a low note but have since risen, Bitcoin has clearly outperformed them, the S & P 500 currently trading a little less than 17% since the beginning of the year and the Dow Jones Industrial Average up by less than 15%. YTD.
Other cryptocurrency surpasses bitcoins
Although bitcoin is currently the top performing asset in 2019, other smaller cryptocurrencies have significantly outperformed the BTC this year.
Binance Coin (BNB) is an example of a smaller cryptocurrency that has significantly outperformed the BTC, as cryptocurrency has just surpassed its all-time highs and shows very little slowdown.
At the time of writing this article, BNB is trading up 2.2% at its current price of $ 24.58. The NBB started the year at around $ 6.19 and has since skyrocketed nearly 300%.
The extremely positive results achieved by the cryptography market over the past few months have significantly improved the sentiment of distressed investors who had been devastated by the bear market of 2018, and a growing fundamental strength could allow further price rises as 2019 continues.
Selected image of Shutterstock.
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