Bitcoin up by 88% on a YTD basis, 99% up from last December's bottom

11 May, 2019
by Alberto Arnaldo
Price Action
Bitcoin up by 88% on a YTD basis, 99% up from last December's bottom

The currently ongoing bull run which seems to be aiming for the $7,000 price range for Bitcoin has propelled mid and long term returns to levels which poise it again as one of the best performing assets ever.

On a YTD (Year to date) chart such as the one shown below, it can be observed how Bitcoin has taken a decidedly bullish growth rhythm, elevating all the way from the inaugural high $3,000 range to its current one near $7,000.

Chart provided by Tradingview

The gains of Bitcoin since the beginning of 2019 currently amount to 88%, and therefore it is nearing the point where it will double its starting price of the year. More precisely, the doubling will take place when Bitcoin gets priced at around $7,200, a range which seems well within sight taking into account the current rythm of price growth.

Currently, the main cryptocurrency by market capitalization has just doubled itself from its 52-week low mark, which was set on the 17th of December of last year, at $3,158. Since then, Bitcoin has grown by 99.7%.

The growth pattern of Bitcoin can only be seen in all its dimension by taking a few steps back. Therefore, 2-year return statistics show a whooping 273% return, which propels all the way to 1,341% when looking at it from a 3-year perspective and up to 3,558% when compared with prices from 5 years ago.

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