Returns on Bitcoin, Get a Broader Perspective: BTC/USD Price Up 340% Since April 2017
Bitcoin is still stuck at $5k after surging nearly 25 percent a few days back. Now, everyone is looking for a movement of confirmation that indicates our way to the moon.
Meanwhile, if we take a look at the returns on the investment made in Bitcoin in terms of price, despite being about 80 percent down from it's all-time high from December 2017 at $20,000, the leading cryptocurrency is doing extremely well.
In terms of yearly change, the flagship cryptocurrency is just about down 26 percent. In 2018, the BTC price slid down from about $11,500 in March to just above $6,600 in April.
If we go back even more, say 2 years, Bitcoin is up over 340 percent. In April of 2017, the price of flagship cryptocurrency has been floating around $1,040 while slowly making its way to its all-time high (ATH)
What’s more interesting is, just a year before that, in April 2016, BTC price was a mere $420. This brings us a 3 year change of more than a thousand percent, 1,090 percent to be exact.
30 day change: +31%
1 year change: -26%
2 year change: +340%
3 year change: +1090%
Not too bad.
— Alex Krüger (@krugermacro) April 5, 2019
In the last 30 days, Bitcoin has surged 31 percent as it started the last month at about $3,800 and the beginning of April is seeing it at $5k. After much waiting and not much price movement, April brings in a new wave of greens in the market after dropping down to the lows of $3,200 in December, last year.
This surge could have been due to a large order, or the April's fool joke or simply a technical move that showed no resistance from $4,100 to $5k, but this renewed volatility in the Bitcoin crypto market has got people celebrating and now projecting another rally to a new peak.
All of these returns on Bitcoin are merely price related and not touching the other even more important aspects of this leading cryptocurrency. In the times of today where the global economy is slowing down and government keep on piling debt, central banks talking about creating money out of thin air and constantly pushing interest rates down, we need an alternative currency to the fiat that gives us control, is not restricted and has scarcity to add more value.
All in all, Bitcoin is doing way better as an investment option and an upcoming global currency.
Live Bitcoin (BTC) Price:
1 BTC/USD =$50,273.3559 change ~ 1.44%