Bitcoin Overcoming Gold, Nasdaq, 10-Year Treasury and S&P 500 in 2020

Bitcoin Overcoming Gold, Nasdaq, 10-Year Treasury and S&P 500 in 2020

In almost 10 months of 2020, Bitcoin is up about 48.7% in the year, surpassing gold, the Nasdaq Composite Index, the S&P 500 Index, the Us 10 Year Treasury Note, the Us Dollar Index and Crude Oil WTI.

The BTC started the year at around $7,215 and is trading at $10,732 at the time of writing, according to CoinMarketCap.

Known as "digital gold" in the crypto world, Bitcoin's correlation with real gold has been up and down throughout the year, according to CoinMetrics. Amid a volatile macroeconomic environment, the precious metal also had a positive year, albeit less than BTC.

Gold was trading at around $1,540 / ounce in early 2020 and is currently going for $1,861.68 / ounce, according to BullionVault. That's about a 20.8% increase.

Likewise, the NASDAQ Composite Index rose 21.63% year to date, reports MarketWatch. The S&P 500 was up just 2.09%.

The US Dollar Index, by contrast, fell 1.88% in the year, and crude oil fell 34.59%.

This year has also been difficult on the 10-year US Treasury note: The Wall Street Journal chart reports that it was earning 1.887% yield in early 2020. It is currently earning only 0.658% yield, a huge drop in almost 65%.

source: dailyhodl.com

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