Bitcoin Price Set to Outshine Gold and Stocks by Big Margin in 2019

Bitcoin is on track to end 2019 on a positive note and significantly outperform traditional assets like gold and stocks. 

The number one cryptocurrency is currently trading at $7,125, representing a 93 percent gain on a year-to-date basis, according to CoinDesk’s Bitcoin Price Index.

Prices rose from $3,700 to $13,880 in the first six months likely on the back of halving narrative (a supply cut due in May 2020). Facebook’s launch of cryptocurrency Libra in June further boosted buying.

The frenzy, however, ended in the third quarter with fear gripping the market that Libra might fast track stringent regulation for the entire crypto market. The sell-off was accentuated by miners selling their bitcoin rewards in the final quarter, as noted by crypto market analyst Willy Woo.

At press time, bitcoin is reporting a 48 percent loss from the high of $13,880 seen at the end of June. Prices hit seven-month lows below $6,500 earlier this week.

Despite the H2 downturn, bitcoin’s full-year…