Since the beginning of the year the cryptocurrency has already gained around 40 per cent of its value, soaring to outperform NASDAQ, the S&P 500 as well as most commodities such as gold and oil.
Bitcoin’s success does not stop there however; it has also managed to outperform the stock value of marquee companies such as Amazon, JD.com, iQiyi and traditional assets, stocks and indexes.
Bitcoin is currently sitting at USD $5,568.53, and as mentioned is up 40 per cent from the start of the year compared to the Nasdaq 100, which includes companies such as Amazon, Facebook, Google and Microsoft, which are only up about 22 per cent.
It is also outperforming Standard & Poor’s 500 Index (S&P 500), one of the most prominently used investment indexes on the market, which is only up about 17 percent since the beginning of 2019.
But it is not just the stock market that Bitcoin seems to be dominating; it also has a strong hold over commodities such as heating oil, gasoline, gold, corn and soybeans.
Many believe that the best is still yet to come with BTC and this is only just the beginning of a very positive run.
It has managed to retain the gains which it made during its latest rally, and according to a recent report by a popular cryptocurrency hedge fund, this is a very “positive sign”.