Although, Bitcoin isn’t trading at 2017’s bull figure, in fact, not also it is half the value but the recent report from the Wall Street Journal reveals that it has performed better than other major asset classes such as bonds, S&P 500, Oil and more.
According to the WSJ report, published on Sunday, May 04, 2019, Bitcoin in comparison to other asset classes recovered 56 % of its value in 2019. The Journal compared the price performance of multiple financial asset classes of the four months – it highlights that all asset classes are up with positive returns of four months.
Per the report, Bitcoin is on track. Although other assets have also registered flourishing returns, Bitcoin’s performance seems exceptional. To note, 2019 have been a good year so far for 89% of asset classes such as bonds, commodities, stocks, credit markets, and cryptocurrencies.
However, a graph shared by WSJ indicates Bitcoin is up in terms of price recovery – that eventually drag the other asset classes down. As such, Bitcoin sees 56% recovery, U.S.crude oil comes in the second spot with over 30% returns, S&P 500 with over 10%, Lean hogs too recorded recovery with 10%, Copper, Global Corporate bonds and Global government bonds follow the suit.
The report comes in a wake of Bitcoin crossing $1 billion market cap and the price above $5800 which marks as the all-time high of the year 2019. Nevertheless, during the month of March, bitcoin jumped up to its ‘golden-cross’ which set a new base for Bitcoin to jump higher.
Nevertheless, whether or not Bitcoin continues its rally – is really uncertain but the increasing interest from the institutional investors are suggesting its uptrend. Concerning the similar note, Fidelity also reported the growing interest of Bitcoin among institutional investors. It says
Even more compelling is how the range of intermediaries has evolved. We began fielding interest from crypto funds and other early movers. Over the past several months we’re seeing interest among family offices, endowments, pensions, and foundations.
At the moment, Bitcoin slipped from its $5800 figure and managed to stand at $5696 with a market cap $100,753,614,812.
Do you think BTC’s recovery performance during the four months in the year 2019 continues to flourish the upcoming months.? Let us know in the comment below
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com