Bitcoin has for several months now, captured the crown for 2020 as the most profitable mainstream asset of the year. Whatever the reason is behind the unstoppable momentum, the recent divergence between crypto and stocks, and even precious metals, has the leading cryptocurrency by market cap reaching over 16x times the return of the S&P 500, and nearly four times the return of gold.
Bitcoin Reaches 90% ROI During Rockiest Year On Record
2020 has been a wild ride of a year. Missle strikes in Iran and tensions between the US and China to start the year seem trivial at this point, following what transpired from Q2 and beyond.
Crypto and the stock market was setting new highs for 2020 when a pandemic swept the globe that disrupted the economy worldwide. Stimulus money designed to sustain markets, the economy, and to keep citizens employed, has only further worsened economic conditions.
The conditions that are causing damage to the dollar’s dominance, are an enormous benefit to Bitcoin thanks to its hard-capped supply and digitally scarce design.
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As the dollar supply inflates and its buying power drops, Bitcoin price will rise simpy due to the dollar’s weakness. Combine a perfect storm of corporations rushing to buy BTC to protect buying power and wealth with the falling dollar, and there’s a recipe for a new bull run brewing.
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