By the looks of it, we should all be making a New Year's resolution to buy Bitcoin at the start of each new year. In this piece, we delve into Bitcoin's performance from January 1st over the past decade up to the present day. Looking back, Bitcoin has exhibited significant price surges, suggesting that despite prevailing uncertainties in the global economy, 2024 might prove another lucrative year for those capitalizing on Bitcoin's value trajectory.
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While the widespread awareness of Bitcoin's meteoric rise is evident, quantifying this development reveals the staggering returns when compared to traditional finance. The figures speak for themselves:
If you invested in Bitcoin on January 1, 2014, your return to date would be +5507%.
Investing on January 1, 2015, would yield a +13112% return.
Choosing January 1, 2016, results in a +9732% return.
Opting for January 1, 2017, offers a +4290% return.
January 1, 2018, brings a +199% return.
January 1, 2019, nets a +1028% return.
January 1, 2020, leads to a +487% return.
January 1, 2021, results in a +45% return until today.
January 1, 2022, shows a -8.7% return until today. Oof!
January 1, 2023, indicates a +155% return until today.
The data underscores that in 9 out of 10 years, investing in Bitcoin at the beginning of the year would have been profitable. With the upcoming Bitcoin halving in mid-April, historically a positive price driver, 2024 presents a favorable investment opportunity to say the least.
Additionally, anticipation surrounds James Seyffart's projections for the approval of spot Bitcoin ETFs. The expected response next week carries significance, as we highlighted just before Christmas Eve.
As with any investment, particularly in the realm of cryptocurrencies, exercising caution is paramount. Never invest more than you can afford to lose, especially in the relatively unregulated crypto market. Be vigilant against fraud and conduct thorough research before deciding to purchase Bitcoin or any other cryptocurrency.
This information aims to inform and is not an investment recommendation.
Best regards,
Adam Jakobsen.
The NBX Team.
