Bitcoin’s 2017 Performance Has Been Off the Charts, LiterallyNovember 7, 2017 1:47 pm
With year on end growth of more than 600 percent Bitcoin has certainly reached impressive numbers, but what exactly does that growth mean in a market economy?
Cointelegraph.com put those numbers into perspective Tuesday, showing the true effect on the growth year-to-date.
In the performance range, the report said, Bitcoin shows a 663 percent growth. The next highest performer is Apple stock, which has grown at a 49 percent level year-to-date.
While the Apple figure pales in comparison, removing Bitcoin from the equation, the report said, it is still a healthy and impressive figure.
Over the course of time, however, there have been some tremendous growth spurts, the report said. For instance, Amazon saw 6,000 percent growth between 1997 and 1999.
For the 2016-2017 period, Bitcoin grew 2,800 percent, the report said.
At the start of 2017, Bitcoin was a terrible investment as within 10 days of the start of the year the cryptocurrency had lost 20 percent of its value, the report said.
Bitcoin may be riding high now, but the cryptocurrency has dropped 40 percent on more than one occasion already this year, and despite that still shows enormous growth, the report concluded.
– WN.com, Jack Durschlag