Bitcoin’s surge in price has been on the scope for both media and cryptocurrency investors. Since, the cryptocurrency market is somewhat frowned upon with scepticism by some retail investors, we can’t deny the fact that the returns are there and one of the most popular crypto assets and the catalyst for the entire cryptocurrency market – Bitcoin has been outperforming NASDAQ 100 and S&P 500.
According to the analysis of the markets, Bitcoin has been the second asset to bring the most returns, by a whopping 35% in returns, just below the 38% growth in Oil.
Bitcoin has been providing generous returns for the investors into this crypto asset, despite experiencing a 80% drop in the year 2018. Recently, Bitcoin has been gaining a solid momentum and holding the price above $5,000 where it found a new level of support.
Being valued around 1,000 in early 2017, Bitcoin rose around 400% in about two and a half years, which led the cryptocurrency market into the formation of a “bubble” in the early 2018.
Despite Bitcoin experiencing such a tremendous fall, the market seems to have been adjusting pretty firmly and it is expected to experience another cycle of growth.
Despite the slow and steady growth of the price, the industry is continuously being developed. Exchanges such as Gemini are working behind the scenes in order to provide the best solutions and security for their customers who wish to invest into cryptocurrencies.
In October 2018, the Winklewoss twins, founders of Gemini cryptocurrency exchange, have obtained insurance services from Aon and now provide insurance for their customers in order to ease their fears.
The Winklevoss twins have commented on this particular achievement:
“…we were able to successfully demonstrate to insurers that Gemini, a New York trust company, is indeed a safe and secure exchange and custodian where customers can buy, sell, and store digital assets in a regulated, secure, and compliant manner.”
Although the price of Bitcoin fluctuates around $5,000 at the moment, the price in short-term is showing the signs of a potential uptrend. The support and resistance levels are being respected, whilst the market is moving sideways for the time being.
Although the price has experienced an 8% drop, from $5,400 to $5,000 the long-term perspectives have been re-considered by the analysts and investors.
The price in the short-term perspective is still somewhat unclear as the analysis are being carried out. However, talking about the development and performance of Bitcoin, although it has suffered a major drop in 2018, it still outperforms some of the biggest stock markets in the world.
Exchanges are also implementing new ways to allow their customers a better user experience and security whilst investing into this new market and of course – benefit from it.