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Bitcoin Shatters Records, Dominates Competition in 2024!
A recent report by Matrixport reveals Bitcoin’s exceptional performance surpassing conventional assets like Nasdaq, gold, S&P 500, and oil.
By:
Elif Azra Güven
02.07.2024 – 15:04
Last Updated:
7 seconds ago
0
Following a temporary decline post its all-time high in March, dipping below $60,000, Bitcoin has surged by 46% since the onset of 2024.
Matrixport lauded Bitcoin’s remarkable achievements, highlighting its supremacy over well-established assets such as Nasdaq, gold, S&P 500, and oil.
As per the Matrixport study, Bitcoin and Ethereum emerged as the top-performing assets in the first half of 2024, outstripping various traditional investments including Nasdaq, S&P 500, oil, gold, the US dollar, and government bonds.
Comparative figures for the year show Nasdaq at 20%; S&P at 15.1%; Bitcoin at 46.0%; and Ethereum at 48.3%.
Matrixport attributed Bitcoin’s impressive performance to the approval of spot Bitcoin ETFs in January.
“As we move into the latter part of 2024 and the third quarter, Ethereum and Bitcoin continue to lead in growth amongst traditional asset classes.
Since the introduction of the Bitcoin ETF in January, asset managers have no justification for excluding Bitcoin from their asset portfolios. Consequently, Bitcoin has once again emerged as the top asset performer this year.”
#Matrixport
Today-Jul 1:
#Crypto
Emerges as the Prime Asset Class of the Year
#BTC
#ETH
#cryptocurrency
pic.twitter.com/L8HxDwFRvP
— Matrixport Official English (@Matrixport_EN)
July 1, 2024
Bitcoin Breaks Its Bearish Trend!
Matrixport’s report also noted Bitcoin’s break from the bearish trend. Highlighting Bitcoin’s dip to its lowest potential level on the Matrixport Greed and Fear Index on June 25, Matrixport indicated a probable price recovery.
Furthermore, Matrixport mentioned that Bitcoin was oversold and managed to break the short-term bearish trend over the weekend. “Bitcoin has broken the short-term bearish trajectory over the weekend. While obstacles persist for a sustainable rally, a tactical recovery has certainly taken place,” commented Matrixport.
#Matrixport
Today-Jul 2:
#Bitcoin
Successfully Breaks Bearish Momentum
#CryptoFinance
#cryptocurrency
#BTC
pic.twitter.com/UGYyA1rIiX
— Matrixport Official English (@Matrixport_EN)
July 2, 2024
*This content does not constitute financial advice.
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