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Bitcoin gains 28% so far in 2020 amid risk-off sentiment

Bitcoin has emerged as the top rising asset class so far in 2020 returning a whopping 28.45 percent in less than a month, data shows.

According to data collected from Coindesk, the world’s largest cryptocurrency closed at $9,277 on January 29 versus $7,222 on December 31, 2019.

It was trading near its three-month high of $9,369 at the time of publishing this copy.

Bitcoin managed to outperform other asset classes including gold which rose 3.06 percent, rupee (0.06 percent). Meanwhile, Nifty and crude generated negative returns falling 0.32 percent and 11.09 percent, respectively, so far this year.

At current valuation, Bitcoin accounts for nearly 66.4 percent of the overall cryptocurrency market. It has a market cap of nearly $170 billion.

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