Bitcoin Is By Far The Most Profitable Asset Class Of 2019 With A 25% Gain Since New Years, And Bitcoin Is Probably Just Getting Started

May 1, 2020 / by Crypto.IQ

The Coronavirus Pandemic has caused 2020 to be perhaps the worst year in modern economic history. Some people are saying that this is even worse than the Great Depression. 30 million Americans have already lost their jobs, and it seems the losses are only just getting started and a multi-year global depression is developing. Amid this environment most asset classes are performing poorly and seeing big losses on the year. But Bitcoin (BTC) has broken away from the pack and is actually seeing significant gains.

Specifically, Bitcoin (BTC) was worth $7,100 on New Year’s Day 2020, but now is worth $8,900,  a gain of 25%. Bitcoin (BTC) did indeed crash hard to as low as $3,850 during the Coronavirus induced stock crash in March. But without any government bailouts Bitcoin (BTC) has fully recovered all of its year to date losses and has gained 25% on top of that.

Further, this may be only the beginning of Bitcoin’s (BTC) bull run. The block halving is coming in about 10 days, and Bitcoin (BTC) will likely rally significantly during the month of May. Therefore, Bitcoin (BTC) is the most profitable asset class of the year and it appears it will only continue pulling upwards away from the pack.

Compare this to the stock market. The Dow Jones Industrial Average (DJIA) is still down 17% since New Year’s Day despite trillions of dollars of government bailouts and money printing. Even worse, the stock market appears to be indecisive about going up any further, and it is quite likely that trillions of dollars of additional bailouts will be needed to prevent another stock collapse.

The only other major asset class that has gained this year is gold, which is up from $1,530 to $1,690 since New Year’s Day, a gain of 10%. It appears gold has the potential to keep gaining value, but simultaneously it appears Bitcoin (BTC) will rally far more than gold due to the upcoming block halving.

UItimately, even though 2020 is still young, it appears Bitcoin (BTC) will be the most profitable asset class for the duration of the year.

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