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

By Yashu Gola

bitcoin



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.


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 bitcoin’s gains.


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