Cryptocurrency is the best performing asset class of 2019

Despite being far away from their all-time high, cryptocurrencies are still the best-performing asset class of 2019. That means cryptocurrencies have given more annualized return than US equity, commodities and bond markets in 2019.

2019 started as a rough year for cryptocurrencies, with Bitcoin (the largest cryptocurrency) reaching a two year low at close to $3,500 in the first quarter of 2019. But from the second quarter, the markets rebounded, with Bitcoin reaching close to $13,000 during the month of July. The markets since then have fallen.

Much of the cryptocurrency markets’ success lies with Bitcoin, which is up by 100% since Jan 1st, 2019. The second-largest cryptocurrency, Ethereum, is up by 56% since Jan 1st, 2019. Litecoin is up 54% while Bitcoin Cash is up by 22%. XRP is the only one from the Top 5 cryptocurrencies that underperformed in 2019. XRP is down by 36% since Jan 1st, 2019.

Cryptocurrency compared to traditional markets. Source: Coindesk

Due to the rebound of the US Equity and Bond market in the third quarter, the traditional markets are narrowing the gap. But cryptocurrency markets still have a significant lead.

It is expected that the cryptocurrency market will perform good in 2020 due to the much anticipated Bitcoin Halving which is scheduled for mid-2020.

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