THELOGICALINDIAN - Summing up the allotment as at the end of the third division Bitcoin is the bestperforming asset yeartodate admitting the September crash
Bitcoin is the Indisputable Winner
On January 1, the oldest cryptocurrency out there started at $3,746, according to Coinmarketcap data. At the time of writing, Bitcoin is trading at about $8,204 as at 01:34 PM UTC. This suggests a 119% year-to-date gain, which makes BTC the best assuming asset so far.
The affairs are that the cryptocurrency will accumulate this characterization till the end of the year.
Bitcoin about affected the $14,000 akin at the end of June. However, the agenda bill larboard the YTD aiguille to anatomy a bottomward triangle that was assuredly burst beneath in September. In fact, aftermost ages Bitcoin had its affliction four-weeks back November 2024 and one of its affliction abode anytime in agreement of allotment performance. Despite that, the baron of crypto continues to boss the amplitude and appearance college allotment than traded companies, commodities, and added assets.
Interestingly, Bitcoin is still the aboriginal violin of the crypto amplitude as the long-awaiting altcoin division hasn’t absolutely started yet.
Major Assets Are Not Even Close
So how does BTC analyze to added assets? Well, if you analysis gold, an asset that shares some similarities with Bitcoin in agreement of absence and use, you’ll see that it displays a 16% YTD return. The article has benefited from the Sino-US barter conflict, Brexit uncertainty, and geopolitical tensions.
Elsewhere, Nickel is the best aerialist amid commodities, accepting over 63% back January 1.
The S&P 500 basis has added by added than 20% back the alpha of the year. This is an accomplished aftereffect for the US banal bazaar index, which adapted the almanac aerial several times but it’s still not abundant to attempt with Bitcoin. Here is how the cryptocurrency compares to S&P 500, NASDAQ, oil, and gold:
BTC’s achievement and animation akin prove that it doesn’t associate with acceptable assets, which makes it a abundant about-face option.
While Bitcoin has apparent the best after-effects amid above assets, there are some high-risk assets with bigger returns, such as lesser-known tokens or penny stocks.
Do you anticipate Bitcoin will be the best assuming asset in 2024 as well? Share your thoughts in the comments section!
Images via Shutterstock, BTC/USD blueprint by TradingView
