Lately, the buying pressure of Bitcoin spiked in the market even though we already left the prime accumulation period. All thanks to the increased market value of the cryptocurrency.
Analysts in the crypto space have also added that Bitcoin is the best performing asset in year 2019 with about 135% returns.
Pompliano, a partner at Morgan Creeks Digital, after observing Bitcoin’s tremendous achievement in 10 quarters, said it will take 8 years before compound money can achieve such goal.
Pomp averred that Bitcoin yielded 800% within the stated duration and it is the best performing asset in the last 10 years.
Bitcoin Has Higher Yield Than Government Bonds In 18 Countries
Bitcoin’s chain of credence seem not ending, despite the fact that the cryptocurrency is seeing slight retracement, thus not performing as hoped.
Although Bitcoin and its asset class are known for their unpredictability, its present growth continues to overwhelm and agape people around the world.
Charlie Bilello, an analyst known for series of factual financial reviews, today uploaded a number of countries’ yield within 20 years.
The report which basically focused on negative bond yield initially itemized 19 countries before Bitcoin was also included.
Bilello, after including Bitcoin in the table, disclosed that Bitcoin outperformed 18 countries. At 0%, the table declared that Bitcoin has no negative yield.
The analyst said ‘Bitcoin has a higher yield than government bonds in 18 countries.’ Bilello proclaimed that the 18 countries are trying to devalue their currencies.
United State, which was not included in the second report, displayed higher yield than Bitcoin while the likes of Switzerland, Germany, Japan, Denmark, Netherlands and others were found in the list of 18 countries whose bond yield fell below that of the digital asset.
At 0%, all the eighteen countries had negative return even though at different length as Bitcoin reported positive returns all through.
Italy recorded the lowest with 6 months negative yield while Switzerland topped the table with 20 years negative yield.
Charlie Bilello, in his report also accented to the fact that Bitcoin has risen by over 130% this year.
The analyst added that central bankers are very good at deceiving the world that negative rates are good things. Meanwhile Bitcoin is decentralized and not controlled by any government body.
Since Creation, Bitcoin Recorded Profits in 22 Months Out Of 25 Months
Still on the Bitcoin’s growth, a cofounder at Morgan Creek, Jason Williams said everyone who bought Bitcoin and held it till today has surely made money.
Jason said out of 125 months which Bitcoin has been in existence, the digital asset has been profitable for 122 months with the exception of December 2017, January and February 2018.