In the first half of 2020, the bitcoin rate has grown by 27%, overtaking gold and platinum

In the first half of 2020, the bitcoin rate has grown 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%), since in the first three months of the year the cryptocurrency lost 11.35%.

During this period, against the backdrop of the global crisis, the gold rate rose by 16.45%. Although the Au price reached its eight-year high in June, it still lagged 10.64% behind BTC. Silver and platinum have not been able to recover after the March collapse; by the end of the first half of 2020, their rate dipped by 0.45 and 15.75%, respectively..

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 lost positions. In addition, cryptocurrencies are more volatile than precious metals, which provides investors with a better rate of return per adoption. increased risks.

However, even despite the good dynamics, the popularity of the digital asset is still far from the level of the 2017 crypto boom. According to research by The Block, there are now eight times fewer searches «bitcoin», the number of visits to the thematic Wikipedia page 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 value of MTC transactions exceeded $ 180 billion..

text: Ivan Malichenko, photo: ruslo, graphic: Messari

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