The renewed institutional interest in cryptocurrency recently sent Bitcoin surging to a new 12-month high – its price rising above $31 300 in July and putting it on track for its best annual performance since 2020, according to Altindex.com. 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.
Despite being a risky investment with high volatility, Bitcoin brought positive returns to more than 70% of its holders, says the research firm.
Historically, Bitcoin has offered the potential for high returns. Between 2017 and 2022, BTC recorded an average ROI of 1 645%, outperforming all the world’s major indices. BTC 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 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 – close to 30%.
Lido Staked Ethereum, Bitcoin Cash, and Litecoin round out the list of Top 5 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 of 84%, 81%, and 63% to their holders respectively.
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.
The CoinMarketCap data shows crypto space saw nearly $5,12-trillion worth of BTC trades between January and June last year, or $845-billion 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.