2019 returns for Bitcoin is +95%, with over 150 days of less than +/-1% movement
Market Skew, a data analytics provider for cryptocurrency derivatives tools, recently rounded up some Bitcoin statistics for 2019 as 2020 beckoned. According to the cryptocurrency market analysis platform, 2019 earnings for Bitcoin were reported as +95%, with more than 150 days moving below +/- 1%.
Some bitcoin stats to finish the year
2019 return +95%
150 days where bitcoin moved less than +/- 1%
Maximum one day move 17.4%
Minimum one day move -14.1%
Average absolute daily move 2.4%
90% of returns between -4.7% & +6.1%
Think bitcoin is volatile? Depends who you ask! pic.twitter.com/deA5ejokpA
— skew (@skewdotcom) December 31, 2019
Bitcoin reported an average absolute daily move of 2.4% in 2019
Skew also said that the one-day maximum movement in the Bitcoin value in 2019 was 17.4%. Besides, it reported an average daily average movement of 2.4%, with 90% of profits in 2019 being reported as -4.7% to +6.1%.
As AZCoin News reported, Tether has moved below the $ 1 mark since July.
i really cant get bullish again until $USDT > $1
since July, $USDT < $1 hasn’t been bullish pic.twitter.com/B91o7art5J
— Josh Olszewicz (@CarpeNoctom) January 1, 2020
Olszewicz said that the USDT’s continuous decline below $ 1 is because USDT is being converted into fiat when traders withdraw capital from the bear market. At $ 0.996 at press time, a further drop could signal a loss of interest from market participants and lower inflows of capital into the market.
USDT’s market cap increased over $2 billion in 2019, and the company minted a reported 1.7 billion coins | Source: CoinMarketCap
CoinMetrics’ correlation data shows that BTC and USDT (on both OMNI and ERC-20) now have a nearly 20% higher correlation from the beginning of December. This means that Bitcoin will only increase after USDT pass more than $1.
While Bitcoin did not perform as well as expected in 2019, it is safe to say that the coin has performed well. Hopefully, 2020 will bring even more luck to Bitcoin and the cryptocurrency market in general. With Bitcoin’s hashrate hitting an all-time high on January 1, a positive precedent for 2020 can be set.
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