Connect with us
[crypto-donation-box]

Uncategorized

Here’s the 10-Year Score Card Comparing Bitcoin and Traditional Assets

Avatar

Published

on

Rate this post

The prospect for growth is arguably one of the core factors that investors consider when choosing an asset to invest in and this has always influenced the type and nature of assets that are considered viable by many professional investors. While the choice of an asset to invest in is dependent on the choices of an investor, there are important metrics and technical profiling of the wide array of assets that can help investors make better choices in placing their bets on any one asset.

The investing world is most predominated by the stock and commodity market. The stock market is where the shares of publicly listed companies are traded while the commodity market features the trading of such economic commodities such as cocoa, gold, precious metals, crude oil, and many others. Until recently, more than a decade ago, Bitcoin (BTC) and blockchain technology were born, heralding a new niche of investable assets known as cryptocurrencies.

The birth of cryptocurrencies came with more than one revolutionary overhaul, but primarily, Bitcoin and the succeeding altcoins came to change the traditional functioning of the current traditional financial ecosystem. As they began making waves in their purported use cases, the virtual currencies began rising in value on an annual basis, and are now at a point where they are being regarded as a better asset class to invest in than those in both the stock and commodity markets alike.

The 10-Year Growth Tracker of Bitcoin and Traditional Assets

READ  Big Investors Helped Fuel Bitcoin’s Rally to an All-Time High: Report

According to the data culled from The Case for Bitcoin, a data aggregator platform for Bitcoin and related assets, the price or value momentum of Bitcoin in the past decade is remarkably up by 10,136,508%, compared to a negligible growth of 34% for gold in the same time frame.

According to the public data up for comparison, Bitcoin has always seen a significant growth rate exactly 10 years ago when compared to Gold and the S&P 500 Index, an index tracking the growth of the biggest 500 listed United States stocks. 

In the first year profiled, bitcoin grew by exactly 308%, gold surged 18% while the S&P 500 Index saw a 16% growth rate. Bitcoin also took the lead in the second year with 811% advancement in value, gold recorded 43% while the S&P 500 grew by 47%. The overblown growth came in the 8th, 9th, and 10th year when bitcoin grew by 234,343%, 488,867%, and 10,136,508% respectively.

In the last three years profiled, gold recorded a relatively conservative growth of 11%, 13%, and 34% while the S&P 500 Index 159%, 195%, and 199% respectively.

Despite gold seeing more global embrace shown in its market cap pegged at $11.27 trillion against the $654 billion for Bitcoin, according to CoinMarketCap, the precious metal has a super low mark on its scorecard in relation to Bitcoin.

What This Connotes

READ  GFSC Labels Three Crypto Websites as Unauthorized

From the reported data, it is obvious that Bitcoin’s upward trajectory had been consistent except for the third and seventh years when it recorded significant retracements. Bitcoin has been constantly projected by analysts and investment banking firms including JPMorgan Chase to grow beyond $146,000 from its current price of $34,500.

Should this projection come through in the near future, the growth rate of Bitcoin will even take a more rocket dive to the moon further giving credence to the claims that the cryptocurrency is the new gold.

#Bitcoin #btc #Gold #Growth Rate #S&P 500 Index

Source: https://www.cryptoknowmics.com/news/heres-the-10-year-score-card-comparing-bitcoin-and-traditional-assets

Uncategorized

China Bans Payment Firms From Crypto Business

Avatar

Published

on

By

China has banned financial institutions and payment firms from engaging in business related to cryptocurrency transactions. It has also warned investors against crypto trading which it has described as speculative.

This ban means that entities like banks will not be allowed to offer clients cryptocurrency services.

The move comes at a time when China has a well-developed central bank digital currency program, which many consider to be world-leading.

This is a developing story. Check back for updates. 

Source: https://decrypt.co/71255/china-bans-payment-firms-from-crypto-business

Continue Reading

Uncategorized

Top Reasons Cardano Price could hit $5 soon. It’s Not Too Late to Buy

Avatar

Published

on

By

Cardano has worked very hard to reach the $2 mark, and the crypto is working even harder to achieve $5, as many analysts believe it will.

With the dominance of Bitcoin dropping by the day, it may now be time for the altcoin season to really get going – we are already witnessing several altcoins reach all-time highs.

Even though the crypto space currently looks bearish, some analysts like Michael van de Poppe are hopeful that Cardano will maintain their bull run alongside other currencies, and possibly take the lead from bitcoin in the crypto market.

Can Cardano reach $5?

A growing body of analysis on Cardano shows that the cryptocurrency may breakout to reach the $5 mark soon.

According to the founder of Cardano, Charles Hoskinson, ADA demonstrates a positive price trend because the Cardano network will soon outperform Ethereum and Bitcoin. However, Hoskinson did not give a specific future valuation for the token.

Cardano has been giving Ethereum a run for its money because of its scalability, speed, and low gas fees. The platform is becoming a preferred option for DeFi developers turning away from Ethereum because of its high costs and transaction lags.

Another reason why ADA could reach the $5 mark is because of the implementation of the Mary upgrade. The upgrade is expected to transform Cardano into a multi-asset blockchain. It will also allow users to create NFTs for the very first time on the platform. The upgrade is expected to push the value of Cardano higher as more users sign up on the platform.

Looking at the price movement of Cardano, it is also evident that the token may be heading for an all-time high (ATH). Cardano closed the previous week, indicating a bullish trend. Currently, the price of ADA has broken the $2 upper barrier, which means that lower support levels will also need maintenance.

According to Rekt Capital, a cryptocurrency trader and analyst, ADA is likely to breakthrough and soon form a new ATH.

Looking at ADA’s price movements in recent weeks, the token has gained by a significant percentage. This is expected to progress into the future as people start looking for altcoins to escape from the bearish Bitcoin rally. As it has already smashed the $2 value, the $5 value is not too far away.

Another analyst that has also shown optimism regarding ADA prices is Cryptogeek. According to the firm, Cardano’s price will appreciate and hit $4 and $5 values by 2023 and possibly $10 by 2025.

Looking to buy or trade Cardano (ADA) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Source: https://insidebitcoins.com/news/top-reasons-cardano-price-could-hit-5-soon-its-not-too-late-to-buy

Continue Reading

Uncategorized

What Dogecoin Needs To Do Next and How Musk Can Help

Avatar

Published

on

By

Tesla boss Elon Musk has let the world know that he will not be supporting Bitcoin given the energy concerns surrounding it, but will be putting even more of his weight behind Dogecoin. To that end, Musk says he’s working with developers to make Dogecoin environmentally friendly.

In the past few months, the eccentric billionaire has increased his support for Dogecoin and declared himself the “DogeFather. According to him, the joke coin is his favorite crypto asset.

He has spent a lot of time tweeting about it and even recently spoke about it on CNBC’s comedy show ‘Saturday Night Live.’ This concentrated effort has seen Dogecoin gain even greater prominence, and it currently occupies the fifth spot on the crypto charts.

This might be the moment the “people’s crypto,” as it is famously called, may have been waiting for. DOGE consumes less energy than Bitcoin in comparison, BTC transactions gulp 770KWh, while Ethereum takes 62.56KWH, Litecoin uses 18.522KWh, and DOGE leads the rear with just 0.12KWh.

Given its low energy density, this may be what Musk needs to keep Tesla’s crypto policy running. Musk himself has made this even easier. He has been in contact with part-time developers of the joke coin as far back as 2019.

He is also asking crypto whales to give up their DOGE holdings. Musk has made his demands even more palatable as he has promised to pay them off if they decide to sell. But this may not help him to legitimise the Bitcoin knock-off.

Low Energy Consumption and DOGE Payments

One way he can get the ball rolling is by selling the energy benefits of DOGE, which presently goes for a meagre 1.0512 MWh of electricity annually. With the world calling for the reduction of carbon footprint, this could be a huge selling point.

His rocket business SpaceX could also become a major piece in the DOGE puzzle. An announcement last week by Musk of a Falcon 9 rocket named DOGE-1, paid for with the joke coin, could go a long way in refining it as an industrial value transmitter.

As noted by Tom Ochinero of SpaceX, DOGE could end up facilitating interplanetary commerce. This disclosure saw DOGE rise above the 50 cents mark, and this could play to its favor.

Bitcoin made its name partly from the narrative of it being a store of value. This is driven mainly by its hard cap limit of just 21 million BTC ever to be mined.

DOGE has no maximum supply, which leads many crypto investors to refuse to take the joke coin seriously. A limit could eventually help the once-disregarded digital coin become the people’s currency.

Looking to buy or trade Dogecoin (DOGE) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Source: https://insidebitcoins.com/news/what-dogecoin-needs-to-do-next-and-how-musk-can-help

Continue Reading
Blockchain5 days ago

US Investment Bank Cowen to Offer Crypto Custody Services

Blockchain5 days ago

Coinbase revenue tripled in Q1, plans to add bank-like services and to list DOGE

Blockchain1 day ago

YooShi Launches MEME DeFi Token

Blockchain5 days ago

Diem Relocates From Switzerland to the US to Launch an USD-Backed Stablecoin

Blockchain4 days ago

Get the most out of social media with the Weentar blockchain platform

Blockchain5 days ago

Cardano DeFi Project deFIRE Secures $5M in Funding Round

Blockchain4 days ago

Sportsbet.io and Arsenal FC Launch Augmented Reality Matchday Programme

Blockchain3 days ago

Increasing Popularity of Crypto Pressures Samsung to Add Hardware Wallet Support to Its Galaxy Smartphones

Blockchain4 days ago

Coinbase Nets $771 Million Profit in Q1 2021

Blockchain5 days ago

Elon Musk loses $20B since SNL, as Michael Saylor comes out firing

Blockchain5 days ago

deFIRE Raises $5 Million in Pre-IDO Funding Round to Enable Defi on Cardano

Blockchain5 days ago

Binance Faces Investigation from IRS and DoJ

Blockchain5 days ago

Can XRP stand to gain from Tesla dumping Bitcoin payments?

Blockchain4 days ago

Ethereum, EOS, MATIC Price Analysis: 14 May

Blockchain5 days ago

Shanghai Man: Aping out of gorilla token, digital dollar Biden its time… and more

Blockchain4 days ago

Samsung the Latest to Embrace Crypto By Adding Ledger Wallet Service

Blockchain4 days ago

Shiba Inu (SHIB) Mania, Dogecoin, Tesla’s Bitcoin Halt and Crypto Market Volatility: The Weekly Recap

Blockchain5 days ago

Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders

Blockchain5 days ago

Huobi Group Launches $100 Million Fund For DeFi And NFT Development 

Blockchain5 days ago

Bitcoin: The three mistakes of Satoshi Nakamoto

Trending