RATE Group | Bitcoin Outperforms Gold, US Stocks, and Bonds in 2019; Will 2020 be Same?
73395
post-template-default,single,single-post,postid-73395,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Outperforms Gold, US Stocks, and Bonds in 2019; Will 2020 be Same?

26 Dec Bitcoin Outperforms Gold, US Stocks, and Bonds in 2019; Will 2020 be Same?

Posted at 16:55h in Bitcoin News by

[ad_1]

Most of the commodities, stocks, and bonds staged an outstanding run in 2019. But the traditional asset classes still fell short before a stronger and a more offbeat contender: Bitcoin.

The benchmark cryptocurrency, which more or less functions as a “decentralized” payment startup, underwent a dreamy bull run during 2019’s first and the second fiscal quarter. At its highest, it was trading up to 280 percent higher on a year-to-date scale, with its market cap equivalenting four AirBNBs and five Ubers.

bitcoin, bitcoin price

Bitcoin established a YTD high of $13,868 in June 2019 | Source: TradingView.com, Coinbase

The Fundamentals That Were

Media reports mentioned a string of factors behind the bitcoin’s exponential price gains. The escalation in the U.S.-China trade war, for instance, led Beijing to devalue its offshore currency – renminbi (RMB) – below $7 per piece. It led the South China Morning Post in May to credit the gloomy macroeconomic situation as one of the main reasons behind…

[ad_2]

Source link

Tags:
, , , , , ,