The leading cryptocurrency by market capitalization, Bitcoin, broke its all-time high (ATH) and hit the $ 69,000 mark on November 10, up 71.8% year over year. Since the local low of $ 30,000 on July 21, Bitcoin is up 56.6%.
Ethereum is up 456%
While it wasn’t a really stellar year for Bitcoin, the second largest cryptocurrency, Ethereum, posted outstanding year-on-year growth of + 456% in 2021.
Ethereum grew steadily over the year, hitting its first ATH of $ 4,182 on May 12 and a second ATH of $ 4,878 on November 10, making 2021 the second-best year in history.
Bitcoin and Ethereum have outperformed both stock markets and gold this year. Over the same period, the Nasdaq and S&P 500 indices returned annual returns of 26.54% and 25.82%, respectively.
Over the same period, the Nasdaq and S & P500 returned positive annual returns of 26.54% and 25.82%, respectively.
– IntoTheBlock (@intotheblock) December 26, 2021
Interestingly, advocates often describe Bitcoin as digital gold that outperformed physical gold in 2021, which at the time of writing has a return on investment (ROI) of -5.26%.
Digital gold vs. physical gold
The market activity of gold has declined since mid-2020 from over USD 2070 / ounce in mid-July 2020 to USD 1,812 / ounce today, a decrease of 12.5%. Even so, gold has done exceptionally well over the long term, up 59.7% in 5 years and up 12.5% in 10 years.
However, the cryptocurrency has done even better as the price of BTC moved from $ 891 on December 23, 2016 to its current level of $ 49,220, a 57x increase in 5 years.
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