Bitcoin outperformed nearly every asset class in past year: VanEck

VanEck expects Bitcoin’s long-term bull market to continue, but miners are struggling.

Bitcoin (BTC) has outperformed almost every asset class in the past 12 months but a recent drawdown has investors “spooked”, according to a Sept. 19 report by VanEck, an asset manager.

Spot BTC prices are up some 124% since September 2023 and BTC has gained relative share among cryptocurrencies, according to the report. Bitcoin’s market capitalization — which is approximately $1.25 trillion as of Sept. 20 — comprises 56% of crypto’s total, up some 15% since on year ago, VanEck said.

VanEck expects Bitcoin’s “long term Bull Market” to continue for the foreseeable future, adding that “Bitcoin’s adoption as an investment vehicle isn’t driven by the same forces today as in 2023.”

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VanEck expects Bitcoin’s long-term bull market to continue, but miners are struggling.
Bitcoin (BTC) has outperformed almost every asset class in the past 12 months but a recent drawdown has investors “spooked”, according to a Sept. 19 report by VanEck, an asset manager.Spot BTC prices are up some 124% since September 2023 and BTC has gained relative share among cryptocurrencies, according to the report. Bitcoin’s market capitalization — which is approximately $1.25 trillion as of Sept. 20 — comprises 56% of crypto’s total, up some 15% since on year ago, VanEck said.VanEck expects Bitcoin’s “long term Bull Market” to continue for the foreseeable future, adding that “Bitcoin’s adoption as an investment vehicle isn’t driven by the same forces today as in 2023.”Read more