Bitcoin (BTC): The Top Performing Financial Asset in 2023?

Throughout this year, the flagship cryptocurrency, bitcoin (BTC), has demonstrated unwavering resilience. A performance that positions the asset as one of the most efficient in the financial market this year. These are, at least, the conclusions of a recent crypto study conducted by Kaiko Research.

Bitcoin (BTC) Outperforms Most Other Financial Assets in 2023

Bitcoin (BTC) is on track to end the year 2023 as one of the best-performing assets in the financial market. This is indicated by a recent report published by Kaiko Research, a blockchain data research firm.

The study shows that despite a challenging macroeconomic landscape and crypto industry hurdles, bitcoin has surged by more than 160% this year. This performance outshines that of most traditional assets over the same period.

It is a particularly exceptional result when you consider that only a few assets have outperformed the flagship cryptocurrency. Kaiko Research notably cites the results of the software giant NVIDIA, which achieved a remarkable increase of 228% in 2023.

Kaiko Research also highlighted the fact that bitcoin’s unparalleled dynamism is noticeable through the Sharpe ratio. It is an indicator that assesses risk-adjusted returns. The BTC’s Sharpe ratio, explains the company, is among the best Sharpe ratios of financial assets in 2023.

Bitcoin Set To Close 2023 As One Of The Best Performing Assets – Report https://t.co/93IYwOhx3Z

— Ox HaK 🏴‍☠️ (@oxhak) December 26, 2023

A Performance Driven by Unyielding Dynamism

If the flagship cryptocurrency is undoubtedly set to end 2023 in much better health than it began, it’s largely due to its unyielding dynamism. In its report, Kaiko Research revisited the key moments of this last year.

The company identifies three notable events: first, an early recovery from cycle lows. This is followed by a mid-year pullback and, finally, an end-of-year rally.

Bitcoin (BTC) is currently trading at around $42,550, down 1.83% over the past week. Kaiko Research recalls that a few weeks ago, BTC soared to over $45,000.

The cause was a false rumor about the approval of a Bitcoin Spot ETF, which gave a boost to the asset’s price. Even though it was a false alarm, several experts agree that bitcoin (BTC) is expected to surge upon the approval of a Spot Bitcoin ETF.