According to a recent report made by The Wall Of Street Journal, Bitcoin (BTC) is the best-performing asset class in 2019, at the moment, outperforming others, such as crude oil, stocks, and more. Even so, it’s too early to pronounce that the bearish period is over for Bitcoin (BTC), but it would be accurate to state that, at least for the time being, the BTC is rallying towards the $6,000 mark. It will most probably cross above that level soon.
Bitcoin (BTC) Is The Best-Performing Asset Class In 2019
However, as per the report released by The Wall Street Journal, 2019 has been a great year for all major asset classes. For example, on 11 out of 70 categories reported losses in comparison with the same period of 2018.
Now, back to Bitcoin (BTC), it appears that the leading cryptocurrency in the market, the BTC, outperformed all the other major asset classes. Bitcoin (BTC) therefore, managed to surpass crude oil, S&P 500, lean hogs, copper, corporate bonds, and even government bonds.
The fact that Bitcoin (BTC) is having an incredible moment in the market has also been visible through the surge the BTC experienced in April when its price boosted by about 20%. And that momentum might lead to another Bitcoin (BTC) surge in May, this month.
What’s Next for Bitcoin (BTC)?
While nobody can deny that Bitcoin (BTC) is doing well in the market, we cannot say for sure that the BTC is on a bullish path until the asset trades above $6,400. At least, that’s what the economist and crypto insider Alex Kruger thinks.
“$BTC now at $5750, 2018 low prior to the November crash. The 2018 bear trend ended once above $4200. Above $6400, 2018’s most traded price, it’s a bull market,” said Kruger on Twitter, on May 3rd.
At the moment of this writing, Bitcoin (BTC) trades at $5,939, after it surged by 4.22% over the past 24 hours, and it’s on its way to passing over the $6,000 mark. It would soon trade over that level, undoubtedly. If the BTC keeps on the same track, it will reach and maintain over $6,400 soon, maybe this month.