The performance of Bitcoin toward the end of last year was as bad as reaching $6,500 after attaining a height of $13K earlier in July 2019, but the first and leading cryptocurrency has been firing on all cylinder since the start of this year.
At press time, Bitcoin continues to show quite impressive rally as it remains in the green zone, depicting that bulls are still in action. Although the market has been somewhat moribund since yesterday, indicators show that as long as Bitcoin maintains support above $8,700, there won’t be any reason to be bearish.
Bitcoin is up by close to $2,000 from its starting value of the year, and the founder at Partner at Morgan Creek Digital, Anthony Pompliano, has said anyone who invested $10,000 on Bitcoin at the start of the year would have made a profit of $2,400.
Pompliano was forced to make the assertion after a Washington, DC-based stock market observer Eddy Elfenbein tried to described the turnover of the S&P 500 asset since the year began.
Eddy in a tweet said he would have had $305 profit to himself if he had invested $10,000 in the S&P 500 at the beginning of the year.
Eddy who has 25 years’ experience in the investing industry said a $10,000 S&P 500 investment since January would be worth $10,305.93 now.
Responding directly, Anthony said: “If you had invested $10,000 in Bitcoin at the start of this year, you’d now have $12,400.”
Already, Bitcoin has added 28% to its value since January.
Changpeng Zhao (CZ) Begs for BNB Version
The matter prompted a huge conversation thread on Twitter as followers of Pompliano who are crypto lovers began to reveal the return of various cryptocurrencies since January. The CEO of one of the most functional crypto exchanges, Changpeng Zhao, who also joined the thread pleaded for a BNB version of the analysis.
Changpeng requested that the return value $10,000 invested in BNB since the beginning of the year be posted.
Oh, someone post the $bnb version please! 🙏 savage I know. 😂
— CZ Binance (@cz_binance) January 18, 2020
The CEO got responses from people. However, NewsLogical conducted its own analysis and confirmed that if $10,000 had been invested in BNB at the start of the year, the present value would be roughly $12,900, hence, BNB has been more profitable than Bitcoin this year.