Why Cryptocurrencies Have Made a Dramatic Comeback in 2020
If you have kept track of the financial news at all in the last six months, then you are likely aware that the cryptocurrency market has picked up considerable momentum this year, with many cryptocurrencies experiencing incredible growth in recent months.
Since the beginning of the year, major cryptocurrencies like Bitcoin (BTC-USD), Ethereum (ETH-USD), and XRP (XRP-USD) have outperformed practically all other asset class classes, by achieving 165%, 342%, and 156% respectively against the US dollar (USD) in this time.
These figures dwarf those achieved by major stock indices during the same period, Including the S&P 500 (^GSPC), which is up 14.36% YTD, and the DOW Jones (DOW) which gained a modest 5.28% YTD in 2020.