RATE Group | Is 2020 The New 2017? Bitcoin Could Be This Year’s Best Performing Asset
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Is 2020 The New 2017? Bitcoin Could Be This Year’s Best Performing Asset

05 May Is 2020 The New 2017? Bitcoin Could Be This Year’s Best Performing Asset

Posted at 07:06h in Cryptocurrency News by

Bitcoin exploded onto the global stage in 2017 with a massive rally that made many early adopters overnight millionaires.

The bitcoin price, which is up around 5% so far in 2020 after a rocky few weeks following the coronavirus crash, has swung wildly over the last year—down around 50% from its 2019 high.

Now, as traders eye the biggest quantitative easing program ever undertaken, bitcoin could outperform the wider market in 2020 with investors scrambling to keep up with a rapidly evolving and uncertain situation.

MORE FROM FORBESBillionaire Mark Cuban Reveals When He Would Buy Into BitcoinBy Billy Bambrough

“Economists are dealing with three levels of uncertainty,” UBS chief economist Paul Donovan wrote in his daily update.

“Uncertainty about the virus. Uncertainty…

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