There is no doubt Bitcoin here to stay despite the the major downfall the currency took after the FTX scandal.
According to the research, the renewed institutional interest in cryptocurrency sent Bitcoin surging to a new 12-month high, with its price rising above $31 300 (R553 956) in July and putting it on track for its best annual performance since 2020.
AltIndex.com also noted that the latest price jump of the world`s largest crypto has also increased the number of investors who earned from putting their money into buying Bitcoin.
According to data, despite being a risky investment with high volatility, Bitcoin brought positive returns to more than 70% of its holders.
The Best Performer Among the Largest Cryptos
Historically, Bitcoin has offered the potential for high returns. Between 2017 and 2022, the cryptocurrency recorded an average return on investment of 1,645%, outperforming all the world’s major indices.
Bitcoin returns in this period were 1,987% higher when compared to the Dow Jones and 1,734% above the ROI of the S&P 500 index.
The world`s largest and most expensive digital coin has also recovered surprisingly well after last year's crypto winter, with its price surging by 85% in the year`s first half, the third-largest increase among the top cryptos.
This helped Bitcoin cement its position as one of the best performers in the crypto space, according to AltIndex.com.
Share of investors who earned more money than they spent by investing in selected cryptocurrencies, as of July 20 (in percentage)
According to IntoTheBlock data, more than 70% of investors holding Bitcoin in their wallets have seen a positive return on their investment, much more than any other crypto in the top 10 list. On the other hand, 24% of them lost more money than they made.
Ethereum has the second-largest share of investors with a positive return, with 66.5% of them earning on ETH investments.
After a massive drop amid the crypto winter, the price of the world`s second-largest cryptocurrency significantly recovered this year, jumping by 65% in seven months and rising from $1,200 to above $2,000 in July. But compared to Bitcoin, ETH has a higher share of holders who saw negative returns, or close to 30%.
Lido Staked Ethereum, Bitcoin Cash, and Litecoin round the list of top five best-performing cryptos, with 62.6%, 60%, and 50% shares of investors with positive returns, respectively.
Polygon, Cardano, and AVAX were on the other side of the list. Statistics show the three worst-performing cryptos on this list brought losses to 84%, 81%, and 63% of their holders, respectively.
Bitcoin's Trading Volume Hit $4.2 Trillion in H1
Besides ranking as the best-performing crypto on the top 10 list, Bitcoin also hit an impressive trading volume of over $4.2 trillion in H1, but still less compared to a year-ago period.
The CoinMarketCap data show crypto space saw nearly $5.12 trillion worth of BTC trades between January and June last year, or $845bn more than in the first half of 2023.
Statistics also show March was the top month for BTC trading in H1 2023, with $1.19 trillion in monthly trading volume. Last year it was May, which saw nearly $1.09 trillion worth of Bitcoin trades.
It should be noted that the share price of Bitcoin was R515 781 at 09:30 on Tuesday morning.
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