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Bitcoin (BTC) has seen positive returns for two consecutive quarters, ending the first half of 2023 in green, according to data compiled by the cryptocurrency information platform CoinGlass.
Bitcoin Sees 2 Consecutive Quarters in Green
For the first quarter, the leading crypto asset posted a return of 71.77% and 7.19% at the end of the second one. The last time bitcoin recorded two consecutive green quarters was in Q3 and Q4 2021, with 25.01% and 5.45%, respectively. This is a significant development as the crypto market seems to be recovering from the bear season that spanned across most of 2022.
Bitcoin broke its quarter-long negative streak in Q1 2023. For 2022, the asset recorded negative returns every quarter, with Q2 being the worst due to the fall of the Terra ecosystem. The crypto asset posted quarterly returns of -1.46%, -56.2%, -2.57%, and -14.75% in Q1, Q2, Q3, and Q4, respectively.
For monthly returns, bitcoin has also been positive in 2023. Compared to 2022, when the digital asset had only four green months, it has recorded just one negative this year. The asset started January with 39.63% monthly returns, breaking a negative streak of -16.23% and -3.59% in November and December.
In February, BTC posted a return of 0.03%, while March and April followed suit with 22.96% and 2.81%, respectively. May emerged as the only negative month with -6.98%, and June was better with 11.98%. For July, the leading digital currency already has a positive return of 1%, although it is still too early to say whether the month will end positively.
The Best Performing Asset Class
CoinGlass further noted that BTC is the best-performing asset class with an average annual rate of 230% since 2011, 10x higher than the Nasdaq 100 index, which is the second-best. Within the same period, large U.S. stocks have recorded an annualized return of 14%, while high-yield bonds and gold saw a rate of 5.4% and 1.5%.
Overall, the cumulative growth of BTC since its inception has surpassed 20,000,000%, exceeding that of Nasdaq and major U.S. stock indices, which stand at 541% and 282%.
Bitcoin’s outstanding performance has lured the attention of institutional investors, who have begun to acquire the digital asset, seeking long-term investment opportunities.
