By Moris Beracha.-
Cryptocurrencies have become the best performing asset in 2019. Sources have indicated that, according to recent research, the digital asset of cryptocurrencies has outperformed other assets by a wide margin. Although cryptocurrencies are still below the peaks experienced in 2017, they have returned great benefits from the so-called crypto winter, when everyone thought it was the end of it as a whole.
Cryptocurrencies are still trading at least 100 % above their 2018 price levels, even during a slight downward trend —Bitcoin prices are an example of this. 2019 didn’t start off as expected, but the massive rebound due to Bitcoin, which is the first of cryptocurrencies, did much to elevate the crypto space to its current position, where it has overtaken all traditional assets that include gold and oil along with paper assets.
Ethereum, which comes second only to Bitcoin in terms of market capitalization, has made gains of up to 35 % so far, and XRP, the only cryptocurrency that everyone thought would exceed expectations, is also 25 % negative at January prices.
While this presents a mixed bag for many, it also means that the crypto coins have passed the proof of concept test by being able to stay above in terms of perception and being able to capture the hearts and minds of millennials and the world.
This has also created a scenario in which the digital asset of decentralized accounting technologies appears to be the next big thing in the financial world. The central concept of decentralized finance driven by the cryptocurrency type could be the next level of evolution for global markets.