Bitcoin, despite its high volatility, especially in the current year 2020, its performance was strong.

Bitcoin is now up 32% since the beginning of the year as of the date of writing this article, outperforming gold by a large margin of 100%.

Bitcoin got off to 2020 on a strong note and climbed from its start of the year at just $7,200 to its highest high of the year at $10,400 in mid-February, which equates to a 44% increase in less than two months.

This bullish momentum was quickly cut off as Bitcoin gradually declined in the following month, due to the massive sell-off affected by the outbreak of the Coronavirus.

Bitcoin then reached as low as $4,121 on March 12 after a dramatic one-day dump, but Bitcoin started to regain its bullish momentum shortly after to more than double in value by May.

Read:Fidelity announces allowing investors to add bitcoin to retirement accounts

since then, I became Bitcoin hovers between $9,000 and $10,000, which it reaches in rare cases, with some relative stability for the volatile currency, which is currently recording $9,200.

With this, the price of Bitcoin is up 32% since the beginning of the year.

Gold saw similar price action during the first half of 2020, as it started the year on a strong note by climbing from the $1,529 level on January 1 to $1,700.

But by March, the rise in gold did not last as long as almost other financial markets.

The price of gold collapsed rapidly in mid-March, as the price fell to $1,496 before bouncing back again by mid-April.

The price of gold is currently at the level of 1778 dollars, which is the highest price recorded in the year 2020 and the highest value since July 2011.

This is a 16% year-to-date gain and certainly no slowdown, but it’s still just half of the return that Bitcoin has made over the same period.

Asset performance year-to-date:

+ 34%: # bitcoin
+16% gold
+ 14% US 10-year Treasuries
+ 12% NASDAQ
– 3%: S & P500
-35% crude oil

Read:Ripple paid MoneyGram $15.1 million in market development fees in Q2 2020

– Cryptowatch (@cryptowat_ch) June 23, 2020

Read:Intense fear returns to the souls of Bitcoin investors after falling below $ 50,000

Not only Bitcoin and gold have seen a strong recovery since their March crash, but many other major markets including the Nasdaq and most stock indices are doing well.

However, the most popular stock indices, including “Nikkei 225”, “Dow Jones” and “FTSE” are still in the doldrums since the beginning of the year so far after witnessing an incomplete recovery from the dump in March.

There may be more economic stimulus on the way in direct attempts to keep prices steady which could indirectly positively affect the price of bitcoin and gold.

Read also:

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