With a growth of 15% in the first few days of October, Bitcoin outperformed global macro assets, generating an annualized return of nearly 50% and officially became an active asset.
Bitcoin up 49% over the year
Despite Bitcoin’s wild ride so far over the year, the bears have failed to take control of the market as the 60% retracement from the May all-time high (ATH) is now almost off.
This week’s data shows that Bitcoin outperformed commodities by at least 13% and 17% over US microcaps ($ 50 million to $ 300 million) over the year.
When compared to the performance of some other investments, the picture is even better for Bitcoin holders. For example, the European stock market is up just 10.3% YTD this week.
The Twitter account “Bitcoin” commented on the dataset of the investment firm NYDIG.
– Bitcoin (@Bitcoin) October 4, 2021
“After the strong performance in the third quarter, Bitcoin is now up 49.1% year-on-year. The best performing asset of 2021. “
Some altcoins cause surprises
September was historically a disappointing month for Bitcoin, while October saw the opposite.
With stocks expected to generate “above average” returns even this month, hopes for a good end to the fourth quarter after September performance are high.
Aside from the macro story, however, there are still individual achievements beating Bitcoin in terms of pipe returns. They are altcoins, some of which are seeing massive gains in a short period of time.
Solana (SOL) is one of the most prominent examples starting at $ 1.6 in 2021 and then hitting an ATH of over $ 215.
SOL price chart weekly candlestick | Source: TradingView
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According to Cointelegraph