By CCN.com: Year-to-date, the bitcoin price has increased by 44 percent against the U.S. dollar from $3,700 to $5,320, becoming one of the best-performing assets in the global market alongside oil.
Bitcoin $BTC: +39%
Oil $USO: +38%
Nasdaq 100 $QQQ: +22%
S&P 500 $SPY: +17%
Small Caps $IWM: +17%
MLPs $AMLP: +16%
REITs $VNQ: +15%
EM $EEM: +14%
EAFE $EFA: +13%
Commodities $DBC: +12%
High Yield $HYG: +8%
Investment Grade $LQD: +6%
Bonds $AGG: +2%
Gold $GLD: -1%
— Charlie Bilello (@charliebilello) April 19, 2019
The initial 20 percent rally from bitcoin in early April from $4,200 to $5,000 drastically changed the sentiment around the crypto market and investors generally expected bitcoin and the rest of the market to slow down following a strong upside movement.
In the past few days, bitcoin has continued to increase in value, surpassing $5,300 to record a 32 percent increase in price within one month.
Bitcoin has performed strongly against the U.S. dollar throughout 2019 (source: coinmarketcap.com)
The momentum of bitcoin as well as the significant rise of Binance Coin (BNB), the seventh most valuable cryptocurrency in the market, led the valuation of the crypto market to surge by around $70 billion since February.
Can Binance Coin Improve Sentiment Around Crypto?
Since January, in less than four months, Binance Coin (BNB) has surged by 322 percent against the U.S. dollar, becoming the first cryptocurrency to break its all-time high since 2017.