Throughout this year, the flagship crypto, bitcoin (BTC), has demonstrated unfailing resilience. A performance which means that on the balance sheet, the asset seems to be positioned among the most efficient assets on the financial market this year. These are, to say the least, the conclusions of a recent crypto study conducted by Kaiko Research.
Bitcoin (BTC) Crushes Most Other Financial Assets in 2023
Bitcoin (BTC) is poised to end 2023 as one of the best performing assets in the financial market. This is according to a recent report published by Kaiko Research, a blockchain data research company.
The study shows that despite a challenging macroeconomic landscape and crypto industry hurdles, bitcoin has surged more than 160% this year. A performance that exceeds that of most traditional assets over this period.
This is an exceptional result to say the least when we know that only a few assets have done better than the flagship crypto. Kaiko Research cites in particular the results of software giant NVIDIA which achieved a remarkable increase of 228% in 2023.
Kaiko Research has also highlighted the fact that the unparalleled dynamism of bitcoin can be seen through the Sharpe ratio. It is an indicator that evaluates risk-adjusted returns. That of BTC, explains the company, is among the best Sharpe ratios of financial assets in 2023.
A performance driven by unfailing dynamism
If the flagship crypto will undoubtedly end 2023 in much better health than it started it, it is essentially because of its unfailing dynamism. In its report, Kaiko Research looks back on the highlights of the latter throughout the year.
The company identifies three in particular, namely, firstly, a “early rally from cycle lows”. A period of “mid-year dropout” and, finally, the “end of year rally”.
Bitcoin (BTC) is currently trading around $42,550, down 1.83% over the past week. Kaiko Research recalls that a few weeks ago, BTC soared to reach more than 45,000 dollars.
In question, a false rumor concerning the approval of a Bitcoin Spot ETF, which gave a boost to the price of the asset. Even if it was a false alarm, several experts agree that bitcoin (BTC) should soar with the approval of a Bitcoin Spot ETF.
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