BTC has shown why it remains the favourite among global investors as data from Messari, a crypto analytic firm, revealed that in the first half of 2020 BTC gained more than 27% performing better than precious metals that include platinum gold and silver. The yellow precious metal underperformed BTC by nearly 11% points, despite surging to about 16% at the first half of 2020 and touching eight-year highs last month. Platinum and silver both ended the first half of 2020 with negative gains. Bitcoin’s strong performance is no shock to some analysts, especially in context of the benchmark cryptocurrency’s showing high correlation with global equity markets. “Given that equities are now near, or in some cases above, their highs reached in February, it’s not surprising to see BTC do the same,” said Ryan Watkins, BTC analyst at Messari. Why compare returns from BTCs to gold or other precious metals? “Gold is bitcoin’s most aspirational asset,” explained Watkins . “Like BTC, g...
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