The recent Bitcoin rally has managed to put the dominant cryptocurrency in the latest cryptocurrency news, making it a top performing asset this year. Ever since the epic rally from weeks ago, the cryptocurrency managed to recapture its position and prove to the world that it is still one of the best performing assets in the year-to-date yield.
Currently, Bitcoin is trading at $5,299 and has fallen below the $5,300 limit. However, even as such, it is outperforming the mainstream tradable assets which include the names of Nasdaq, S&P 500, real estate, oil and gold. The Bitcoin rally in the first week of April has allowed BTC to surge from $4,130 to $5,300. Ever since then, BTC has remained in a range between $4,800 and $5,300. Considering the fact that the top cryptocurrency began the year at $3,760, it is definitely a sign for an outstanding performance with returns of over 40%.
The rising oil prices have made oil a top performing asset this year. The performance of oil companies in the sector has been influenced by the rising cost of oil. Right now, one barrel is going from $46.3 to $63.4 according to the TWI Crude Oil Spot Price and similarly to the Bitcoin rally, is up 37% since the beginning of the year. According to CNBC, the prices of oil are once again rising due to better than expected demand which goes in conjunction with the OPEC production cuts and the tightening sanctions on Iran and Venezuela.
The stock market, compared to the Bitcoin rally, is at a lower point. The three major indices (S&P 500, Dow Jones Industrial Average and Nasdaq – are all up by double digits – coming after a major rout on Christmas which saw all of the three indices losing ten or more percent because of the economy and growing trade tensions between US and China.
However, the stocks are still not up enough to keep in line with the BTC rally as featured on many best cryptocurrency news sites. Real estate indexes have also performed well and showed impressive growth, while bonds have played things safe and continued the trend of growth despite the lackluster forecasts and an unnerving crash in December of 2018.
Bitcoin has managed to rally from one of the worst performing assets of the year to one of the best performing assets, all thanks to the Bitcoin rally in April which was astronomical and proved that the bull market is near.
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