Bitcoin’s May Was A Month To Remember Outpacing Traditional Financial Commodities With Returns
Bitcoin’s [BTC] Growth Surpasses That Of Traditional Financial Commodities, With Double Digit Returns
The crypto market has recently been positively trending, as we continue to witness the giant crypto, Bitcoin’s [BTC] flourishing growth. Many speculations, as previously reported by Bitcoin Exchange Guide [BEG], have since arisen as to why BTC’s value has gone up. Some of which include, the end of crypto winter, and as far as the US-China Trade War that led some to believe that illegal activities must be conducted.
Whatever the reasons may be, BTC is growing and more and more investors are clearly supporting its likes, even from the time when we went through the 2018 bear market. In a recent AMB Crypto post, BTC’s performance was compared to traditional financial commodities, such as Gold, S&P Market, NASDAQ 100 and Oil, where it was argued that the former was able to exceed the latter by double digits.
Here are some of the cases made by the news outlet:
“Post the significant price hikes that allowed BTC to breach the $9,000 mark, the king coin [BTC] had returns which crossed 51%. Another point for Bitcoin came when it was revealed that the cryptocurrency was one of two assets that had a double-digit increase in returns.”
The Yen-Dollar pairing was also mentioned to have been one of the better performing pairs, however, it's supposed 3% growth stands nowhere near BTC’s. It turns out that President Donald Trump’s feud with Mexico and China has led the Yen to succeed, bearing in mind the Mexican peso’s 3% drop. The Yen/Dollar’s increase was reported to have caused the dollar to see a drop in its value.
Standard Bank’s Head of G-10 Strategy, Steve Barrow, noted that the Feds resistance to “market pressure for cuts,” is a driving force for assets’ performance. More specifically, he was quoted saying:
“Our view is […] that the market is right to think that the next move will be a cut, but we still think that there will be less cuts and they will come at a later stage than the market currently anticipates.”