Thursday, 26 December 2019

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

By Yashu Gola


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.

Read The Whole Story on NEWS BTC 


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