Bitcoin Best Performing Asset Decade
A sudden surge in the price of bitcoin has made the cryptocurrency the top performing asset of 2020, outpacing gold, silver and crude oil.
Over the past four months, the price of bitcoin has risen by almost a third despite a major crash in March that wiped more than $4,000 (£3,200) from its value.
In the same time period, gold has only risen by around 13 per cent, while silver has fallen by 14 per cent and crude oil has dropped by more than 70 per cent in value.
Bitcoin’s recovery comes less than two weeks ahead of a rare event known as a halving, whereby the number of new bit coins created will fall by 50 per cent.
It is only the third time a halving has happened in bitcoin’s 11-year history and some market analysts believe it could push the cryptocurrency’s price to new all-time highs this year.
Bitcoin’s 9,000,000% Rise This Decade Leaves the Skeptics
Emerging out of the ashes of the financial crisis, Bitcoin was created as a bypass to the banks and government agencies mired in Wall Street’s greatest calamity in decades.
At first, it was slow to break through, muddied by a slew of scandals: fraud, thefts and scams that turned away many and brought closer regulatory scrutiny. But once it burst into the mainstream, it proved to be the decade’s best-performing asset.
The largest digital token, trading around $7,200, has posted gains of more than 9,000,000% since July 2010, according to data compiled by Bloomberg.
What Is Bitcoin? Bitcoin Whitepaper
Asking what is a bitcoin? it is a digital currency, that require no bills to print or coins to mint. And is bitcoin.com legit?
And the amazing thing about it is that it’s completely decentralized without government, financial institution or any other authority interference, hence it’s legit.
But bit coins is well secured because there are no human interference to abuse the process, the system are anonymous.
And it mainly uses blockchain technology and encryption keys to connect sellers and buyers.
Of course, blockchain is a distributed ledger where cryptocurrency transactions are validated and recorded in a distributed peer to peer (P2P) network extending across the globe for secure reasons.
Also, all the computers involves in this P2P network are called nodes and have a very key role when it comes to verifying each transaction and generating and saving a permanent record of it.
Furthermore, major technology giants and banks are investing heavily in blockchain technology, as a bad wagon effect, note that the race is on to actually create blockchain-based products for banks as well.
More importantly, a bitcoin gets “mined.” just like diamonds or gold.
Of course, Bit coin is “mined” by powerful computers that are connected to the internet and isn’t issued from the top down such as traditional currency.
And there is no single point of failure in the distributed ledger.
So, if one of the nodes on the network fails, the network is not impacted and no information is lost.
Of course, note that all the data remains available with no downtime.
Bitcoin, gold and oil price change (%) since 1 January, 2020
Both bit coin and gold have seen significant gains since around mid March, when countries around the world began to introduce lockdown measures in an effort to slow down the spread of the Covid-19 coronavirus outbreak.
This resulted in a global economic slowdown and caused stock markets to crash, as investors looked to secure their holdings in safe haven assets.
This has been why gold has traditionally performed well during times of economic uncertainty, however market data suggests that the finite supply of bit coin means it is increasingly being viewed as a safe haven asset.
“Bitcoin has been surging ahead of the May halving event, with investors eagerly anticipating the positive impact of a tightening in supply that comes once every four-years,” Joshua Mahony, a senior market analyst at financial services firm IG, told The Independent.
“As things stand we are in line to post a 182 per cent rise for Bit coin since the lows of December 2018, and the surge we are currently seeing paints a bullish picture for the months following this third halving.
“From a wider perspective, the huge growth in central bank easing and government debt does highlight why many feel the need to store their wealth in alternative assets to avoid the apparent depreciation that could be on the cards.”
Other cryptocurrencies have performed even better than bitcoin, with ether (ethereum) experiencing gains of more than 60 percent since the start of the year.
Despite their recent gains, Bit coin and ethereum remain a long way off the highs of late 2017 and early 2018, when one bitcoin was worth more than twice its current value.
Buy Bitcoin With Credit Card
Coinbase (USA, Canada, Europe & UK) and CoinMama (worldwide) are the fast and smooth process to buy bitcoin with credit card.
So, all you need to do is just to visit the Buy Bitcoin page.
And be sure that you have your BTC wallet address ready to send the bitcoin to after purchasing it.
But once you have that ready, you can start to buy your first bitcoins.
So, there are five proven exchanges for buying bitcoins with your credit card.
1. Create an Account on Coinbase
2. Navigate to account settings
3. Click “Credit/Debit Card”
4. Enter your Credit/Debit Card Information and
5. Confirmation.
Digital Gold Cryptocurrency
Bitcoin is finding its own narrative as digital gold, and it feels like that narrative is picking up steam and it’s breaking away on its own.
And we can define success for most crypto assets as doing exactly that. Also, the last decade has been quite a turbulent one, especially within the financial markets.
In fact, cryptocurrency emergence might have disrupted some traditional forms of investments, especially when we compare stats from the past ten years.
Although, there are several stocks with high returns, Bitcoin is outperforming all of them by a country mile.
And the largest crypto has noted numerous improvements in its usage and security, raising the question of what is to come and how it will affect our investments and entire lives.
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