Bitcoin (BTC), the leading cryptocurrency by market capitalization, crashed its previous highest market value in 2021, reaching just over $ 69,000 on Nov. 10, up 71.8 percent from a year earlier. Counting from a local low of just under $ 30,000 on July 21, bitcoin gained 56.6 percent. If bitcoin remains at this level until the end of the year, 2021 will be the fourth worst year for bitcoin since 2011
Ethereum (ETH) rose 456 percent
Although it was a somewhat mediocre year for bitcoin, Ethereum (ETH), the second cryptocurrency by market capitalization, jumped into the sky in 2021, appreciating by 456 percent year-over-year. Ethereum it recorded steady growth throughout the year, reaching a first peak of $ 4,182 on May 12 and a second all-time high of $ 4,878 on November 10. Thus, 2021 is the second best year in the five-year history of Ethereum.
Both leading cryptocurrencies outperformed both the stock market and gold in 2021. In the same period, the Nasdaq and S&P 500 indices had positive positive returns of 26.54 percent and 25.82 percent, respectively.
During the same period, Nasdaq and S & P500 had positive annual yields of 26.54% and 25.82%, respectively.
– IntoTheBlock (@intotheblock) December 26, 2021
Interestingly, since bitcoin proponents often characterize the currency as digital gold, bitcoin significantly surpassed the market performance of physical yellow metal in 2021, which had a negative return on investment of 5.26 percent at the time of writing.
Digital versus physical gold
The market effect of gold was slow refuse from mid-2020, from just over $ 2,070 per oz in mid-July 2020 to $ 1,812 per oz, down 12.5 percent from the peak. Going back, gold has been good over the past five years, an increase of 59.7 percent. Over a ten-year period, the market value of gold appreciated by 12.5 percent.
By comparison, bitcoin on December 23, 2016 was $ 891. As of this writing, the market price of bitcoin is $ 50,852 – an increase of 57x or 57,000 percent.
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