Bitcoin price is now up almost 30% since the start of the year as the world’s first decentralized cryptocurrency shakes off regulatory woes and internal politics.
Outperforming All Fiat, Almost Every Stock
Who needs an ETF when you can just buy BTC? Bitcoin price is up almost 30% since the start of 2017 when the latest bull-run was just warming up.
Since January, the world’s first decentralized cryptocurrency has shrugged at its ETF rejection, Chinese exchange woes, and hard fork fears to once again take the lead over all fiat currencies for the third straight year.
Bitcoin price is also seeing bigger gains than most popular stocks including Apple, Facebook, Amazon, and Google to boot.
From the traditional sphere of finance, only Moneygram (50%) and Tesla (41%) stocks saw a bigger increase than Bitcoin price. Additionally, Gold, whose price per ounce was matched by BTC in the beginning of March, has also seen an 11% gain this year, also outperforming all fiat currencies amid global economic uncertainty.
Meanwhile, the top three fiat currencies thus far include the Mexican Peso (11%), Russian Ruble (10%), and the Japanese Yen (6%).
At this rate, traditional investors should take notice as BTC is positioned to reign supreme over all national fiat currencies in seven of the last eight years. The only year Bitcoin price saw a decline was 2014.
Bitcoin Price Aims for Higher Highs in 2017
There are several reasons for why Bitcoin price is currently climbing as explained here. However, the biggest factor at the moment is the increasing possibility of Segregated Witness (SegWit) activation.
First and foremost, SegWit technology is a transaction malleability