Bitcoin Up By 27% in the First Half of 2020

Bitcoin Up By 27% in the First Half of 2020

Bitcoin has shown investors yet another reason as it continues to produce returns. In the first half of 2020, bitcoin is up by 27% beating the other traditional investment instruments. 

A look at past: In 2019, a prominent bank Merill Lynch named bitcoin as the best investment of the decade. It outperformed prominent investment vehicles including stocks, bonds, equities, gold, and commodities. 

Bitcoin’s Strong Performance

Gold, despite rising by 16%, underperformed bitcoin by nearly 11%. Additionally, Silver and Platinium incurred negative gains in the first half of 2020. While the global pandemic manages to cause havoc in the economic markets, bitcoin has turned into a profitable investment. 

Furthermore, experts reveal that the incremental change in the value of bitcoin does not seem surprising. This is because the performance of cryptocurrency is directly correlated to the equity markets. 

Further analyzing statistics reveal that bitcoin’s value was trailing behind, down by 11%, in the first quarter of 2020. But in the second quarter of 2020, the cryptocurrency made a comeback with a rise of nearly 42% in comparison to the first quarter. 

Big Picture: Bitcoin and gold can be looked at complementary investments rather than competition. Expert says that holding digital and physical gold together would provide a better risk-return profile than holding them individually. 

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