For the first half of 2020, the Bitcoin exchange rate grew by 27%, overtaking gold and platinum
In the first half of 2020, the price of bitcoin added 27.09%, which is significantly higher than the market indicators of the main precious metals. The main growth occurred in the second quarter (46.61%), because in the first three months of the year, cryptocurrency lost 11.35%.
During this period, against the backdrop of the global crisis, the gold exchange rate rose by 16.45%. Although the price of Au in June reached its eight-year high, but it still lagged 10.64% of the MTC. Silver and platinum could not recover after the March collapse, according to the results of the first half of 2020, their rate dipped by 0.45 and 15.75%, respectively.
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Analysts believe that the positive indicators of bitcoin are due to the strengthening of its correlation with the stock markets, which are also actively recovering their lost positions. In addition, cryptocurrency is more volatile than precious metals, which provides investors with better returns for taking increased risks.
However, even despite the good dynamics, the popularity of the digital asset is still far from the level of cryptocurrency 2017. According to a study by The Block, now there are eight times fewer searches with the word “bitcoin”, the number of visits to themed Wikipedia pages is 31 times lower, and the trading volume of the BTC / USD pair fell by 85.3%.
At the same time, network activity is gradually increasing and in the second quarter of 2020, the total transaction value of the MTC exceeded $ 180 billion.
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