Cryptocurrencies

Bitcoin Magazine: Bitcoin Is Having Its Best Year Ever

Posted on by Andrew Packer

Year-to-date, bitcoin is up over 60%, adding to gains from 2023. That’s outperformed the stock market and even gold. More importantly, bitcoin is seeing increased acceptance in the investment world.

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    • This year has seen the rise of bitcoin ETFs for trading, making it easier for everyday investors to own the asset, particularly in traditional retirement accounts. Investors have been flocking to the funds, which have seen the fastest inflows in history.

    Meanwhile, pension funds and university endowments are also starting to allocate to bitcoin. And major Wall Street institutions are moving towards bitcoin. That’s a massive reversal to the prior view of bitcoin as a danger.

    So far, these events are just now starting to push bitcoin higher. This week’s election also put bitcoin on the ballot, with bitcoin and crypto in general coming off a winner with the election of a pro-bitcoin president.

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    But more importantly, bitcoin’s performance in the weeks, months, and year after an election tend to be massive.

    Historically, bitcoin rises over 20% in the first month after an election. And the gains can hit the triple-digit level over 12 months. Investors still have an opportunity to buy bitcoin below six figures. Or to buy into altcoins as bitcoin starts to take off once again.

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    • While bitcoin’s returns may not be as massive as they have been in the past, it can still provide excellent returns going forward. Particularly for investors today.

     

    To read the full analysis, click here.

     

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