The Data Shows Bitcoin Outperforms All Other Investments
Bitcoin has had a bit of a rough month. It broke the $8000 mark on May 14th with many expecting it to hit $10K in a short time. Unfortunately, it has been roughly a month and the closest it reached was $8,995, while retracting afterwards. Many traders and analysts are still anticipating that Bitcoin will reach the $10,000 mark.
Best Investment of 2019?
It appears that despite not reaching $10,000, Bitcoin (BTC) remains one of the best investments of the year currently. In a recent tweet by Charlie Bilello, Director of Research at Pension Partners, LLC showed how much Bitcoin outperformed other assets.
It appears that Bitcoin (BTC) is a much better investment than traditional assets currently. Its returns dwarf nearly all investments combined in a year-to-date format. While Bitcoin may surge to $10,000 in the future, or potentially retrace and drop a bit, it is still the best performing asset by a wide margin.
What About Alts?
Many are waiting for "alt season" to begin and are hoping altcoins will follow Bitcoin's lead as they usually do. There were a few other coins and cryptocurrencies that performed just as well if not better.
Bitcoin SV (BSV) which is a fork of Bitcoin Cash has had a pretty dramatic ride. The cryptocurrency has risen 126% despite being delisted from many exchanges. This leads to the question: Did scarcity help its rally?
Cardano (ADA) also had a very admirable year. The competitor to Ethereum & EOS managed to have a 106% rise in its price.
Should favorable market conditions continue, we might see some more Bitcoin millionaires.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado