Bitcoin (BTC) is leading the way in the investment arena, being crowned the best investment of 2019, recognised by the Wall Street Journal as the biggest winner.
BTC is running circles around all other asset classes and as a result this is not something any assertive Wall Street investor should ignore.
Bitcoin has rallied by more than 50 per cent after it experienced lows in 2018.
BTC was not alone in experiencing a disastrous 2018, with 87 per cent of all other assets including stocks, commodities, bonds and credit markets experiencing slumps.
Nonetheless, in April 2019, BTC made an intense recovery with the price skyrocketing to above $6,000 USD, and is currently (at time of writing) sitting at $6,089.90 USD +1.28 per cent.
Yet we have not been blindsided by this, and if you follow BTC news you will not be surprised by the many comments made by Bitcoinist reports,
“It’s better than gold. It’s better than Apple Stock. 30 per cent of young adults prefer Bitcoin to stocks”.
Since Bitcoin has been on the world stage its market dominance has been undeniable, with it’s worth around 720,000,000 per cent more than its original price.
What other investment or asset class will provide you with returns that impressive?
In previous years, for many people, the correlation between Bitcoin and the stock market has been thought to not exist. However, according to the latest data this has been proven that this is no longer the case.
Michael Parker, Director of Research and Head of Strategy for Asia-Pacific at Bernstein Research based in Hong Kong, has commented,
“The markets are more closely tied together than they have ever been before”.
With the bear market not yet completely behind us, BTC has already outperformed all other investments on the market, being crowned the best investment of 2019. Bitcoins performance cannot be undermined.