Bitcoin [BTC], the largest cryptocurrency in the market, has enjoyed a positive turn of events over the past couple of weeks, helped along by significant price hikes and developments in the digital asset industry. The coin underwent a rise of more than 100 percent since the turn of the new year, leading to many analyzing Bitcoin’s returns as opposed to a mainstream financial commodity.
Research by Rhythm suggests that no matter what year users bought Bitcoin, they have always made a profit on a Year-over-Year basis. The data stated that in the first year post Bitcoin’s inception, users received an average return of 4 percent. The following years ie. after 2010, the returns only increased from 194 percent, 923 percent and then, 3,039 percent over the 4th year.
The fifth-year broke away from this positive growth pattern to settle for a return of a lower, but respectable 1,101 percent. The sixth and seventh years of investment were particularly eventful, with returns of 6,320 percent after which the returns spiked to a whopping 144,912 percent, thanks to the market’s record bullish spike. This has continued the following years as well, with Bitcoin posting significant returns, despite the bear market of 2018.
Many supporters of the cryptocurrency had their own take on Bitcoin’s growing influence, as exhibited by @TheCryptoLegend’s tweet, which read,
“Bitcoin will never stop growing. It will keep moving, and if you aren’t moving with it. It Will Pass You By.”
Bitcoin’s returns were discussed recently after it was spotted that the digital asset’s rewards were greater than that of the S&P 500, in terms of “returns and less risk.” It was said that since 2013, an investment made up of 5 percent Bitcoin and 95 percent fiat currency accumulated a higher return rate and less risk, when placed side by side with the S&P 500 market. The largest cryptocurrency also beat the return rate of the growing Yuan Dollar, with Steve Barrow, Head of G-10 strategy at Standard Bank saying,
“The key to the performance of financial assets could be whether the Fed resists market pressure for rate cuts…Our view is still that the market is right to think that the next move will be a cut, but we still think that there will be less cuts and they will come at a later stage than the market currently anticipates.”
Subscribe to AMBCrypto’s Newsletter
XRP v. Stellar Lumens [XLM] Price Analysis: XRP awaits bull rally as XLM holds firm
Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.