Tue, April 16, 2024 at 20:07
Hey Annie!
Guess what?
Glassnode and Coinbase International COIN just released a comprehensive analysis of Bitcoin BTC/USD and Ethereum ETH/USD in their quarterly crypto market guide research report.๐
Oh really?๐ฎ What's the big news?
Well, the report highlights that Bitcoin has been the top-performing asset in eight out of the last eleven years, delivering an annualized return of 124% from 2013 to 2023.
That's like, crazy good!๐ฐ
Wow!
That's impressive.
But isn't Bitcoin known for its volatility too?๐ค
Absolutely right!
Despite its impressive returns, Bitcoin has also experienced significant volatility, with average intra-year declines of 47%.
But hey, no risk no reward, right?๐
I see... What about Ethereum?
How's it doing?
Ethereum is not far behind!
Its price performance has been impressive too, with the current cycle closely resembling the 2018-2022 cycle, which ended with Ethereum up 1,000% 24 months after the low.๐
That's quite a ride!
What about the overall market capitalization of cryptocurrencies?
It increased by a whopping 63% in the first quarter of this year!
The Bitcoin and Ethereum derivatives markets have also experienced significant growth, with trading volumes and open interest reaching new all-time highs.๐
Wow, that's a lot of growth!
What's expected to happen next?
Well, the upcoming Bitcoin Halving and the potential approval of Ether ETFs by the SEC are expected to further drive market activity and investor interest.
Plus, adding cryptocurrency to a 60% MSCI ACWI and 40% U.S. Agg portfolio can increase returns from 33.3% to 67.03%!๐
That sounds promising!
So, is this news good or bad for the market?
Definitely good news, Annie!
It shows the strength and potential of cryptocurrencies.
It might be a bumpy ride, but the long-term outlook seems pretty bright!๐
To sum up, this article is considered a ๐Bullish for investors!!