July 23, 12:50 pm
The renewed institutional interest in cryptocurrency sent Bitcoin surging to a new 12-month high, with its price rising above $31,300 in July and putting it on track for its best annual performance since 2020. The latest price jump of the world`s largest crypto has also increased the number of investors who earned from putting their money into buying Bitcoin.
According to data presented by AltIndex.com, despite being a risky investment with high volatility, Bitcoin brought positive returns to more than 70% of its holders.
Historically, Bitcoin ($BTC) has offered the potential for high returns. Between 2017 and 2022, BTC recorded an average ROI of 1,645%, outperforming all the world’s major indices. BTC returns in this period were 1,987% higher when compared to the Dow Jones and 1,734% above the ROI of the S&P 500 index.
The world`s largest and most expensive digital coin has also recovered surprisingly well after last year's crypto winter, with its price surging by 85% in the year`s first half, the third-largest increase among the top cryptos. This helped Bitcoin cement its position as one of the best performers in the crypto space.
According to IntoTheBlock data, more than 70% of investors holding Bitcoin in their wallets have seen a positive return on their investment, much more than any other crypto in the top 10 list. On the other hand, 24% of them lost more money than they made.
Ethereum has the second-largest share of investors with a positive return, with 66.5% of them earning on ETH investments. After a massive drop amid the crypto winter, the price of the world`s second-largest cryptocurrency significantly recovered this year, jumping by 65% in seven months and rising from $1,200 to above $2,000 in July. But compared to Bitcoin, ETH has a higher share of holders who saw negative returns, or close to 30%.
Lido Staked Ethereum, Bitcoin Cash, and Litecoin round the list of top five best-performing cryptos, with 62.6%, 60%, and 50% shares of investors with positive returns, respectively.
Polygon, Cardano, and AVAX were on the other side of the list. Statistics show the three worst-performing cryptos on this list brought losses to 84%, 81%, and 63% of their holders, respectively.
Besides ranking as the best-performing crypto on the top 10 list, Bitcoin also hit an impressive trading volume of over $4.2trn in H1, but still less compared to a year-ago period.
The CoinMarketCap data show crypto space saw nearly $5.12trn worth of BTC trades between January and June last year, or $845bn more than in the first half of 2023.
Statistics also show March was the top month for BTC trading in H1 2023, with $1.19trn in monthly trading volume. Last year it was May, which saw nearly $1.09trn worth of Bitcoin trades.
AltIndex revolutionizes investing with advanced alternative data analytics, smart insights, and stock alerts, presented in an easy-to-use dashboard powered by comprehensive company data from across the internet.
The information provided by AltIndex is solely for informational purposes and not a substitute for professional financial advice. Investing in financial markets carries inherent risks, and past performance doesn't guarantee future results. It's crucial to do your research, consult with financial experts, and align your financial objectives and risk tolerance before investing. AltIndex creators and operators are not liable for any financial losses incurred from using this information. Users should exercise caution, seek professional advice, and be prepared for the risks involved in trading and investing in financial assets, only investing what they can afford to lose. The information in this application, derived from publicly available data, is believed to be reliable but may not always be accurate or current. Users should verify information independently and not solely rely on this application for financial decisions. By using AltIndex, you acknowledge that it doesn't offer financial advice and agree to consult a qualified financial advisor before making investment decisions.
© 2024 AltIndex. All rights reserved.
Trending Stocks on WallStreetBets
Trending Stocks on Reddit
Top Stock Performers Today
Bottom Stock Performers Today
Best Airlines Stocks
Best Bank Stocks
Best Semiconductor Stocks
Best Energy Stocks
Best Fintech Stocks
Best Robotics Stocks
Best Insurance Stocks
AI Stock Picks
AI Stock Picks - Results
Fear & Greed Index
Stock Picking Reviews
Stock Trading Signals
House & Congress Trading