Looking through Twitter yesterday, I came across this headline; “Bitcoin emerges as the big winner this month in the financial markets, soaring nearly 70%.” It wasn’t the title that stopped my scroll, but the source. The article was published by CNBC.
Shortly before it hit my feed Thursday, Bitcoin took a quick trip over $9,000, a 12-month high and 70% gain over the last 30 days. Bitcoin’s final try at $10,000 this month was a triumphant one that proved difficult to ignore – even by mainstream media.
It’s not often that traditional financial news outlets compare the performance of crypto assets to the stock market, but it’s time they start. From January 2017 to today, Bitcoin is up more than 800%. In 2019, the traditional stock market has gained roughly 12 percent, Bitcoin 112 percent. Even after a slight correction Thursday afternoon, Bitcoin is still up 60% this month alone.
Bitcoin is up over 800% in the last 10 quarters.— Pomp 🌪 (@APompliano) May 27, 2019
It would take more than 8 years to deliver the same results if you were compounding money at 30% year-over-year.
Detractors hate math, but Bitcoin continues to be the best investment of the last decade 🔥
The craziest part? BTC isn’t even the top-performing asset in crypto over the last 30 days. Bitcoin Satoshi Vision, one of the more controversial projects in crypto, made a historic comeback, ending the month up 243%. Following close to BTC, both ETH and BCH are +63% (At 9:45 a.m. EST).
BSV’s sudden spike has likely been fueled by a mix of fake news and speculation that Binance is relisting BSV and that its founder, Craig Wright, had transferred bitcoin (BTC) from the so-called Satoshi wallets to prove his identity.
On the other hand, Bitcoin and Ethereum’s prices are being driven by multiple substantial reasons including uncertainty in the US Economy over trade disputes with Mexico and China and the immersion of big banks and institutions into the crypto market.
The moral of the story? #Getoffzero. If you haven’t invested in crypto, now is the time.
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