Bitcoin Sees 2 Consecutive Quarters in Green
Bitcoin (BTC) has ended the first half of 2023 with positive returns for two consecutive quarters, according to data from CoinGlass. Here are the key points:
– In the first quarter, BTC posted a return of 71.77%.
– In the second quarter, it recorded a return of 7.19%.
– This marks the first time since Q3 and Q4 2021 that bitcoin has seen two consecutive green quarters.
– This is a significant development as the crypto market seems to be recovering from the bear season of 2022.
Bitcoin’s Monthly Returns in 2023
Bitcoin’s positive performance extends to its monthly returns in 2023. Here’s what you need to know:
– In January, BTC started the year with a 39.63% monthly return.
– February saw a return of 0.03%.
– March and April followed suit with returns of 22.96% and 2.81% respectively.
– May was the only negative month with -6.98%.
– June ended on a positive note with 11.98% returns.
– July has a positive return of 1% so far.
Bitcoin as the Best Performing Asset Class
Bitcoin has been the best-performing asset class, outperforming the Nasdaq 100 index and large U.S. stocks. Here are the details:
– BTC has an average annual rate of 230% since 2011, 10x higher than the Nasdaq 100 index.
– Large U.S. stocks have recorded an annualized return of 14% within the same period.
– High-yield bonds and gold saw rates of 5.4% and 1.5% respectively.
– BTC’s cumulative growth since its inception has surpassed 20,000,000%.
Institutional Investors Eye Bitcoin
Bitcoin’s outstanding performance has attracted the attention of institutional investors. They are starting to acquire the digital asset as they seek long-term investment opportunities.
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