How Bitcoin Has Performed Throughout the Pandemic (With Graphs)

As the market enters another Bitcoin era, today we look at how $BTC is doing during times of the pandemic. From year to date, Bitcoin has outperformed traditional assets. Is this surprising or not? Let's say you bought $100 of Bitcoin on 01/01/20. It would have grown to $190 on 10/28/20. 🙌 If you placed your $100 in the Nasdaq 100 or the Dollar Index, your balance would be $133 and $96, respectively. See how $BTC compares to assets like commodities and equities The orange line indicates BTC performance, which dropped to heart-palpitating lows when COVID19 spread in the US, but reached a new record for 2020, at the end of October ​ https://preview.redd.it/rw6alut4rww51.png?width=2056&format=png&auto=webp&s=405123ec40677fa7865be925b31b075519ff99e7 At the start of 2020, BTC strongly correlated with commodities, but broke away in October — potentially from a risk-aversion to traditional markets due to a surge in COVID cases and political environments. https://preview.redd.it/i4yumb67rww51.png?width=1556&format=png&auto=webp&s=72fef7d90d931a49ce8fdf8315890f93738c57cb Also, Bitcoin showed significant correlation with the equity markets in Q1, mostly because all markets sold off in a flight to liquidity. However, once financial stimulus packages were announced, asset prices recovered rapidly. ​ You can do it, Billy As shown here, BTC's correlations with gold and silver dropped drastically after the PayPal crypto announcement. https://preview.redd.it/8r3jff7jrww51.png?width=1572&format=png&auto=webp&s=89a70c7e582576ab57fc494a3a2b351b4ddb3923 For the full coronavirus Bitcoin report, head over to: https://coinmarketcap.com/alexandria/article/bitcoin-vs-traditional-assets-who-is-ahead-mid-pandemic submitted by /u/airseasky [link] [comments]