The 2019 Bitcoin gains are a hot topic on many best cryptocurrency news sites. For many analysts, it is hard to see where Bitcoin (BTC) is right now in terms of its bullish versus bearish scenario. However, what’s certain is that the most dominant cryptocurrency is ‘in a good mood’ lately as the market approaches a new 1 billion in total capitalization.
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One analyst has recently tweeted about the growth of cryptocurrencies this year, reporting the 2019 Bitcoin gains as well as the gains filtered through different categories and details such as oil and other best-performing assets.
2019 Returns…
Bitcoin $BTC: +39%
Oil $USO: +38%
Nasdaq 100 $QQQ: +22%
S&P 500 $SPY: +17%
Small Caps $IWM: +17%
MLPs $AMLP: +16%
REITs $VNQ: +15%
EM $EEM: +14%
EAFE $EFA: +13%
Commodities $DBC: +12%
High Yield $HYG: +8%
Investment Grade $LQD: +6%
Bonds $AGG: +2%
Gold $GLD: -1%— Charlie Bilello (@charliebilello) April 19, 2019
As we can see, the initial 20% rally that Bitcoin made in early April when it surged from $4,200 to $5,000 was crucial for changing the sentiment around the crypto market. Investors at the time expected that the market would correct. Instead, the 2019 Bitcoin gains got to be even higher and the market was led by BTC in another bullish scenario.
Over the past few days, Bitcoin has continued to increase in terms of its value and has recently surpassed the $5,300 mark, recording a 32% increase in price within one month. The momentum of BTC had a lot to do with the growing market as well as the rise of Binance Coin (BNB) which is featured in the altcoin news – leading the market today and managed to get to the seventh spot on the most valuable cryptocurrencies on the market.
Even though the latest reports featured in the latest cryptocurrency news show that the 2019 Bitcoin gains have a lot to do with institutional investors turning to crypto, it is more likely that funds that are already in the crypto market in the form of stablecoins, hedge funds and fiat on exchanges would contribute to a larger effect on the short-term performance of the market.
Right now, it is easy to see that the growth of Bitcoin is definitely attributed to the entrance of Binance Chain in the blockchain space, changing the landscape of tokens so far and changing the market interest all around it. It may be too early to predict, but everyone is hoping to see more of the Bitcoin gains in 2019 in the near future.
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