Bitcoin was in the depths of the bear market by the end of 2018, it dipped by 84% since its all-time high in 2017. The price of Bitcoin reached $3,122 in December 2018. Most people in the traditional market said that Bitcoin would go to zero; however, the price of Bitcoin has since surged by 191% as of May 27, 2019.
This rise in Bitcoin’s price is not surprising to people who have been through the bull market of 2017, but for the people in the traditional markets like Gold, Bonds, etc, Bitcoin’s parabolic rise seems like a meteoric surge. Many people argue that Bitcoin is not safe, but none of them bet against it, for the simple fact that Bitcoin outperforms almost every traditional asset out there.
Morgan Creek Digital’s Mark Yusko and Anthony Pompliano put a $1 million bet out in the open that Bitcoin will outperform the S&P in the next 10 years. There were no takers for this bet, which is more than enough proof that nobody is willing to bet against Bitcoin’s performance.
Over the course of 2019, Bitcoin’s price has reached a peak of 191.35% and at press time, was up by 153%, which when compared to other traditional assets is massive.
Charlie Bilello tweeted a comparison of the performance/returns of traditional assets and Bitcoin.
The returns for S&P500 is only 16% while as seen above, Bitcoin’s returns for 2019 is more than 100%. The emerging markets, which are said to track similar movements as Bitcoin are up by only 5%, the same can be seen with Bonds, Commodities and Gold stands at 4%.
A Twitter user @talgya, commented:
“Is listing these assets in this manner implying that they are all accessible via a regulated exchange for institutional/retail investors? If yes should $BTC be listed as $GBTC, if not should these be listed as tickers?”
Another Twitter user @edtechx, commented:
“I like these Tweets, would be amazing to thread them with additional Tweets (say) same tickers but 2yr/3yr returns as this gives much more context to the 2019 numbers.”
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