Banking giant Goldman Sachs claims that bitcoin (BTC) is the top performing asset at the start of the year. This cryptocurrency is therefore ahead of gold, the US Treasury, the S&P 500, etc. Find out how this crypto rose to this level.
Bitcoin outperforms its crypto pairs and major financial institutions
At the start of the year, bitcoin offers a return to risk or Sharpe ratio of 3.1. By Sharpe ratio, we mean the unit of measurement of performance adjusted for market volatility. When a crypto has a high ratio, its investment, its action in terms of risk-adjusted returns and its currency are better.
Bitcoin goes to great lengths to reclaim lost territory in relatively short timeframes. Indeed, this cryptocurrency is trying to break above the resistance level of $23,800. Implying that the crypto appears to be experiencing a healthy pullback below the resistance line in search of bullish momentum.
Is Bitcoin really the best performing asset this year?
The annual report of CoinGecko is not at all in agreement with the result of the giant of the Bank Goldman Sachs. For CoinGecko, Bitcoin would instead be the worst performing asset when it comes to considering major currencies. For this structure, the crypto registers a considerable drop of 64%. Moreover, it argues that since January 2022, spot market trading volume has fallen by 67%.
CoinMarketCap for its part thinks the new year is pretty bright for bitcoin (BTC), as it boasts $200 billion in volume and volatility. Which therefore implies a solid rally for this crypto that promises a better tomorrow.
It’s clear that Goldman Sachs is not mistaken that bitcoin is the best performing asset this year, as it’s seen around 8% gain in the past few days. The capitalization of the cryptocurrency amounts to almost 440 billion dollars. This places it well above all its market pairs.
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