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Main » 2016 » December » 24 » And the best performer in 2016 is ... Bitcoin?
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And the best performer in 2016 is ... Bitcoin?

 

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After two years of growth tortoise, the price of the same coin soared more than 100% this year. In other words cryptocurrency demonstrated the best annual performance since 2013. As a result, the value of Bitcoins has grown from $ 90 in January 2013 to a record high of $ 1242.

 

 

The market capitalization of Bitcoin has exceeded $ 14.5 billion after the price of the same coin was $ 913 on Friday, according to the Coin Market Cap. Now, the market capitalization of Bitcoin eclipsed even, for example, Twitter Inc. 

Bitcoin Analysts attributed the success of this year by several factors: the increasing recognition of Bitcoins among professional investors, improving market fundamentals and an understanding that the major economies of the world are becoming more unstable. 

"We only hear about the split in the euro zone, the devaluation of the yuan in China, a controversial personality Trump", - said Charles Hayter, founder and CEO CryptoCompare, a company engaged in data and analytics Bitcoin. 

The sharp rise in the value of digital currency - it's just part of the story. The trading volume also rose sharply in 2016, peaking at more than $ 330 million a day during the summer. 

In September 2015 Commodity Futures Trading Commission announced the US Bitcoin and other digital currencies goods falling under its competence. By this standard, cryptocurrency was the best performer in its class of assets, surpassing coffee (9.6%), soybeans (15%), oil (43.1%) and gold (6.7%). 


 

China


Investors have to thank for such a rapid growth of the Chinese government asset. The volume of sales on the Chinese exchanges cryptocurrency ahead of that in the United States several times. 


However, whether this demand is stable - it is unclear. Until recently, the Chinese authorities tolerated neneohotno Bitcoin, but that may soon change. In November, Bloomberg reported that Beijing is exploring all possible options to prohibit citizens to use digital currency.

 

Institutional investors loved Bitcoin


Slowly but surely, cryptocurrency gaining momentum in popularity among institutional investors. 

Over the past year, assets under management Bitcoin Investment Trust, an investment fund established in 2013, a subsidiary of Digital Currency Group Co., has more than doubled from $ 60 million as of December 31, 2015 to $ 139.5 million as at Wednesday, 21 December 2016.

 

Based on materials WELTRADE

 

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