Binance Research Shows Bitcoin’s Performance is Better Than Tech Stocks and Crude Oil in 2019
The crypto market has experienced different highs and lows this year, however it still keeps surprising critics. Bitcoin, has also had an exciting year and as the world’s largest cryptocurrency, it always manages to gain attention.
New reports from Binance Research has proven that Bitcoin is one of the best performing assets in 2019.
As it is, the report revealed that bitcoin performed better than traditional asset classes this year. According to the charts, Bitcoin outperformed assets such as crude oil, U.S real estate and even gold.
— Binance Research (@BinanceResearch) May 7, 2019
The report compared Bitcoin's Year-to-Date [YTD] returns with traditional assets such as crude oil, tech stocks and natural resources. The representation of the comparison on graph clearly shows that Bitcoin YTD was a whopping 53%, while crude oil had a return of 33% and tech stocks generated just 24%.
Global bonds and US bonds generated a disappointing 3% and 2%. Also represented on the graph were assets like gold and the agriculture class which generated a negative YTD of 1 and 5 percent respectively.
The Binance research report which was titled “ What Bear Market?” was conducted to demonstrate that the bear market had no long-lasting effect on bitcoin. One major point the report set out to prove was that Bitcoin was as much a standard store of value as gold.
The World Gold Council [WGC] recently buttressed their point on the competition between Gold and bitcoin stating that,
“Physical gold can be bought for a small percentage above spot price, and purchasing gold via allocated, physically-backed gold ETFs can cost less than a basis point over spot As an example, Bitcoin charges many percentage points (we’ve seen as high as 9% on some exchanges) via the process of the bid/ask spreads and entering and exiting positions.”
Although a lot of persons questioned the charts representation and wondered if it would stick to the same values if it were risk-adjusted. Bitcoin still has growing popularity in the assets market.
Also, a lot of critics still feel that Bitcoin and the world of finance as two separate worlds that should never meet. This has not stopped the growing interest in Bitcoin. As it is, Investment firm, Fidelity revealed that it will soon launch a bitcoin trading for its institutional clients also, Facebook is working on a crypto-based project as well.
bitcoin price paragraph =
Bitcoin’s price is $48,562.93 BTC/USD exchange rate today. The real-time BTC market cap of $904.28 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $19.23 Billion and live coin value change of BTC -0.26 in the last 24 hours.
live bitcoin price widget =