Bitcoin still tops the rankings of the best performing assets in 2020, for the second year in a row. The top cryptocurrency has been among the world's biggest assets and has grown by more than 300% this year ...
Market Perspective
New year and new heights, Bitcoin is still king no matter how denial you are. Bitcoin still tops the rankings of the best performing assets in 2020, for the second year in a row. The top cryptocurrency is already among the world's largest and has grown by more than 300% this year; that's a 6x return for the Nasdaq 100 and 285% higher than the S&P 500. The 25% gain in gold marks the best year in a decade for precious metals (and more specifically, mining stocks). .
It's no surprise that other cryptocurrencies with a higher beta like ETH have generated even greater returns (470%), largely driven by an explosion in usage and innovation in DeFi (perhaps even more in 2021).
A significant part of bitcoin's stellar performance is due to its recent rise (and in the early days of 2021 as well).
BTC is up ~ 175% in Q4 alone, marking the strongest calendar quarter since Q2 2019 (~ 180%)
December's 46% return was the best for BTC in May 2019 (62%)
Bitcoin's $ 600 billion market value would make it the 7th largest stock in the S&P 500
That's what's up until the last days of 2020. So this year 2021: what's worth looking forward to?
Bitcoin gives everyone a gift these New Year's days. As it moves to new highs, and it's fueling the production of more fuel for the next season of Altcoins. Bitcoin dominance remains high (~ 72%), although this will be uncertain for the coming months. Therefore, like any other cycle, altcoins will take a break for a short time, but BTC's volatility is likely to remain high in the short term. Then, liquidity will continue to flow into bitcoin (I mean more money is still pouring in).
Multiple data shows that BTC has entered a period of growth, just like 2017, meaning that altcoins will perform modestly until Bitcoin's price peaks. The altcoin rally has yet to begin, as ETH is slightly higher above $ 700 while its previous all-time high was over $ 1400.
Once bitcoin reaches its peak, investors will likely flock to altcoins. This happened during the bull run in the last cycle. Notably, the growth of the altcoin market capitalization significantly exceeded the BTC market capitalization during the 2017 altcoin boom (this is also noticeable because there are many newer projects as well as good. more in many ways).
If history repeats itself, we are far from the next season of altcoins even though BTC has raised the price of altcoins for the time being. The key signal for the next altcoins season will be when the price of bitcoin reaches a new high.
And that is when, I would like to answer all of you that I accept it.
Next Week Event
Notable events for everyone in the coming week:
Below are notable news from the projects:
04/01: Dong Aavegotchi GHST Mainnet Launch
06/01: IRISnet Testnet project phase 1 ended
08/01: The Falconswap FSW project runs the Mainnet test.
