Bitcoin becomes the best investable asset of the decade: 64% of daily profits since 2017
Since around mid-2017, Bitcoin has proven its worth not only to the cryptocurrency community but also to the world. Since that time, Bitcoin’s price has seen many ups and downs, with at least a dozen dramatic days of price rise or collapse.
Altcoins are at risk of being wiped out
Bitcoin shows a definite period when income is almost guaranteed. After that, there were bear markets that erased nearly all previous gains. Now, BTC has entered a mixed phase, where there is no clear trend.
The bet on BTC price has brought a daily upward move in about 64% of instances over the past two years. However, the exact size of the increase is still unpredictable. Recent analysis shows that the days in green and red have been distributed for the past two years.
Since 2017 there have been twenty 20% or higher intraday moves for $BTC (UTC) pic.twitter.com/7TF55ZNMK5
— Ceteris Paribus (@ceterispar1bus) December 19, 2019
For Bitcoin, buying the dip has long been an optimal tool for taking advantage of temporary lows. Although this strategy is not always effective in the bear market in 2018. But compared to other currencies, the profit from Bitcoin is still more attractive.
Take the specific example as follows. XRP has had a sharp short-term rally, focusing on the end of 2017. However, this altcoin has plummeted throughout the past two years since the beginning of 2018. Ethereum (ETH) has also been clarified, No long term discoveries in the past two years.
But there are also worse cases. Investing ZCash (ZEC) on any day since its inception is also a financial disaster. Despite being pumped over $ 5,000, ZEC has proven that it cannot function reliably at an unrealistic price, like that. And this altcoin has been dumped ever since.
Hodlers ChainLink (LINK) made a lot of profit after this Altcoin started trading. But in the last quarter of 2019, LINK prices fell more often. LINK drew attention but also received criticism that price action could be a coordinated pump operation.
Bitcoin remains the best investment asset of the decade
Timing the market is almost impossible, but in general, investing Altcoins is still risky. And hodling them means you will have a higher chance of entering the downward spiral of prices. On the other hand, buying Bitcoin at the dip and hodl for several months has turned into a relatively successful strategy for Bitcoin.
BAML has a list of best/worst asset classes of the decade:
* Best: Bitcoin $1 in 2010 = $90,026 today
* Worst: Myanmar Kyat $1 in 2010 = $0.004 (spot) today.
* (For comparison: US equities $1 in 2010 = $3.46 today)
— Carl Quintanilla (@carlquintanilla) December 13, 2019
Bitcoin was also the most profitable asset of the decade, far ahead of all other asset classes as its price rose from nothing.
BTC is trading at $7.293 as the end of 2019 draws closer, and the last quarter shows that the currency is still unpredictable, with a faster cycle of increase and decrease. So far, the standard cryptocurrency has abandoned large-scale continuous reviews, and cows and bears often fight it within a few hundred dollars.
- FSA: Investors Cannot Sell Cryptocurrency ETFs In Japan
- Craig Wright Said He Could Not Access To His Bitcoin Fortunes