Bitcoin Has Increased 61.8 Percent Since 2017

By DHEagle | CryptoTent | 9 Aug 2020


Coin Metrics researchers found that those who invested in Bitcoin (BTC) are still profitable since 2017's $ 20,000 high. According to researchers, an investor who has consistently bought BTC over the past three years has achieved a 61.8 percent return.

Bitcoin since 2017

Although Bitcoin's price dropped significantly from $ 20,000, it fell to very low points in 2019 and 2020. Taking advantage of these strong downward trends, investors made huge revenue as prices rose again.

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Coin Metric researchers made these statements

“While Bitcoin is still traded 30 percent less than its all-time high, the average dollar cost since the December 2017 peak is 61.8 percent compared to 20.1 percent annually. As of January 2018, the average dollar cost was 87.6 percent, or 27.9 percent annual return."

Chart showing positive BTC return on dollar-cost average.

Data show Bitcoin's resilience

In the early days of Bitcoin, high profile investors and financial institutions doubted the virtual currency's viability. While some companies have been cautiously optimistic about cryptocurrencies, the vast majority have kept their distance from next-generation assets.

Investor sentiment changed when Bitcoin price managed to bounce back from the $ 3,150 and $ 3,600 strong correction. Large institutional investors began to look more optimistic about Bitcoin.

 

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