Bitcoin’s Yearly ROI is Still Up More Than 150% for Early 2017 Investors
It is clear that since December 2017 Bitcoin is in a bear market. It passed from $20,000 dollars to $6,000 in 6 months, and the bear market might not be finished yet. But those investors that entered more than a year ago, are celebrating 150% gains, or more, on their investments.
Bitcoin 150% Up From A Year Ago
Just a year ago, Bitcoin was being traded around $2,000 dollars. Those who bought at that time are 230% up now. This is an impressive gain that outperforms other assets. Of course, other virtual currencies have performed mostly positively.
Even though there is an important number of new tokens and cryptocurrencies in the market, Bitcoin was able to maintain its dominance compared to the beginning of the year. Bitcoin is still used as a hedge for those holding other tokens in the crypto world.
Other currencies like TokenPay, received attacks from the trader Tone Vays, which said that TokenPay was a scam. He mentioned that TokenPay was ‘connected’ to the Verge team which suffered multiple attacks during this year. But TokenPay is still up 300% since it entered the market.
Another important platform attacked was Bancor. The so called decentralized exchange ended up losing $23.5 million dollars. A decentralized exchange shouldn’t suffer these attacks, because these platforms appeared in the market to solve the problems faced by centralized exchanges.
Additionally, Charlie Lee, Litecoin creator, said that the Lightning Network (LN) implementation that is being developed will not suffer the same fate as Bancor. At the same time, he said that it is going to become the ‘ultimate’ decentralized exchange option.
At the moment of writing, Bitcoin is the most important virtual currency in the market being traded around $6,600 dollars. Moreover, it has a market capitalization of $113 billion dollars. In the last 24 hours it is registering a 4% increase.