Bitcoin vs the market: 2017 reflection on a year of success
The year is drawing to a close so it’s prime time to reflect on 2017, the decisions we made, what we might learn to take forward in the year to come and check out bitcoin vs competitors. It has been a volatile and exciting year for cryptocurrency with some extraordinary successes… and some hiccups along the way.
Naysayers and Yaysayer
Love it or hate it, cryptocurrencies is one of the hottest topics around. On the one side of the spectrum are the naysayers, including Jamie Dimon, CEO of JPMorgan Chase, America’s largest bank, calling Bitcoin a fraud that will eventually blow up, he says.
And, at the opposite end, we find the likes of Abigail Johnson – Chief of the $2.1 trillion Fidelity Investments. The Wall Street Journal dubbed her “Bitcoin’s unlikely evangelist,” after she said that she declared her love for bitcoin and urged that digital currency be made more accessible to individuals and institutions.
But, closer to home, how about you? Do you own Bitcoin? Or, did you perhaps trade them for other crypto tokens or coins during an Initial Coin Offering (ICO), or at an exchange afterwards? Speaking of which, during the past year there were more than 160 ICOs, there’s another 120 on the near-horizon and, to date, over $3.7 billion worth of capital has been raised this way.
Where should your money go?
We were curious to see how some of the ICO-superstars are stacking up to the performance of Bitcoin.
Golem vs Bitcoin
Hailed as one of the most successful ICOs to date, Golem (GNT) raised $8.6 million in a matter of minutes during November 2016, trading at $0.02 during that time. Currently, it’s priced at $0.41, which represents a 1950 percent growth in value. Bitcoin rose from $735 to $17501 during the same period, a 2281 percent growth.
Lisk vs Bitcoin
Another ICO, described by market commentators as one of the top 5, is Lisk (LSK). Trading at $2.04 during its launch in April 2016 and currently at $9.71, the growth in value is 375 percent, compared to Bitcoin’s 4066 percent.
Iconomy vs Bitcoin
Iconomy (ICN) also represents one of the largest crowdsales in history. It traded at $0.19 after its ICO in October 2016 and is currently available on the cryptocurrency exchanges at $1.55. Which means that its value grew by 715 percent, while Bitcoin rose by 2783 percent at the same time.
IOTA vs Bitcoin
If you were lucky enough to buy IOTA, currently the 6th largest crypto coin by market capitalization, for $0.001 at its ICO during November 2015, then you are undoubtedly smiling all the way to the bank right now. Currently, the coin trades at $3.97, meaning that its value has grown by 397000 percent.
Well, nothing, not even Bitcoin’s 4457 percent growth during the same period, comes close to IOTA’s performance. However, since it started trading on the exchanges for the first time during June this year at $0.63, IOTA’s price rise of 530 percent is still below Bitcoin’s 575 percent for the same period.
Wow, what an eye-opener! In conclusion, it seems that – on the whole – simply buying and holding Bitcoin may be hard to beat. Although, having said that, nobody wants to lose out on “the next Iota” either. Oh, decisions, decisions…