Type to search

News

Cryptocurrency is the best performing asset class of 2019

Share

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.

Join Bitxmi Exchange and get $10 USDT on your first trade of $250

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He is the founder of popular blockchain media - Blockmanity. He trades cryptocurrencies and holds some but he prefers holding Bitcoin.

  • 1

Leave a Comment

Your email address will not be published. Required fields are marked *