Peter Brandt, an old school trader, detailed his reasons behind trading Bitcoin and explained how the Bitcoin market is the best the world has ever seen.
There have been more than a few prominent people in and outside the cryptospace who have been following Bitcoin and its performance, which is clearly far better than any other traditional asset. Bitcoin’s price movement over the last couple of months, especially since April, has made the community believe that the bear market has ended.
Brandt tweeted a chart that outlined Bitcoin’s lows, highs, and returns.
Source: Peter Brandt | Twitter
Bitcoin has been through more than a few boom and bust cycles, but the most prominent so far is the peak of the bull market of 2017, due to its hyperbolic rise in price from a mere $2 to $19,531. This rise was a massive 9,765 fold increase in the price of Bitcoin, which shows how investing in Bitcoin can result in massive returns.
Bitcoin’s performance from 2011 to 2017, when compared to other traditional assets linked with fiat currency, doesn’t even come close. The Dow Jones Industrial Average has so far risen 873-fold starting from 1903. While the DJIA has been in existence for more than 100 years, Bitcoin has performed far better in less than 7 years.
A few FAANG stocks have grown 1000-fold in a timeframe of approximately 10 to 30+ years, including Amazon, whose stock which has risen 1564-fold. Netflix grew by 1209-fold in 17 years, while Apple’s stocks advanced by 1448-fold in less than 40 years.
Gold, which is considered one of the world’s most stable store of value, has under-performed more than all of the above-mentioned assets, including Bitcoin.