- Bitcoin could be the best performing asset this year
- The bullish sentiments around Bitcoin continue to increase
- Bitcoin investors expect Bitcoin to break its all-time high of $20k this year
Bitcoin News Today – The year 2017 is so far the biggest year for Bitcoin (BTC) and the majority of altcoins in the market, as the price of the digital currency exploded and made many millionaires overnight. This year has not been all that favorable to Bitcoin, the digital currency has had some rough times following the COVID-19 crash. The price of Bitcoin is up by 5 percent this year and down by 50 percent from its 2019 high.
Bitcoin Could Outperform the Wider Market This Year
Almost every BTC trader is eyeing the forthcoming Bitcoin halving, which is the largest quantitative easing program ever undertaken. Bitcoin could be the best performing asset this year with investors clambering to keep up with an uncertain and fast-growing situation. Paul Donovan – the chief economist of UBS recently said, “Economists are dealing with three levels of uncertainty.” He said:
“Uncertainty about the virus. Uncertainty about the policy response. Uncertainty about the economic response to the virus and to policy. Changes in any one of those change economic outcomes.”
Bitcoin (BTC) Price Today – BTC / USD
He also said that they should throw away the most recent consumer sentiment surveys unread. However, the roadmap of Bitcoin has not changed amidst all this uncertainty, as the most anticipated halving event is fast approaching. Bitcoin’s halving is set to take place in May this year. The halving will reduce the reward of mining blocks on the network from 12.5 BTC to 6.25 BTC per block.
According to the roadmap of Bitcoin, the halving will take place once every four years, and it will continue to slash rewards by 50 percent. This event will continue to take place until the maximum Bitcoin’s maximum supply has been mined, which is 21 million BTCs.
Bitcoin Has Been the Best Performing Asset over the Years
Over the past year and the past decade, Bitcoin (BTC) has been the best performing asset. The digital currency is even expected to perform much better and continue to outperform other assets with the significant growth on the network and the forthcoming halving, says the founder of Quantum Economics – Mati Greenspan.
A survey of top BTC investors showed that the majority of them were optimistic at the beginning of this year. Most of them were positive that the price of the digital currency would soar higher than its all-time high of about $20k this year. The chief executive of CoinCorner – Danny Scott said:
“The current unexpected global crisis and a number of notable events in bitcoin’s pipeline over the next nine months is causing speculation throughout the industry that another bull run is on the horizon and I believe that we can only expect the price of bitcoin to continue in the direction that everything is currently pointing potentially towards that $20,000 figure and beyond.”