Investment wallet with financial assets once again highlights Bitcoin as the best asset for the month of July and even for the year after a new rise in price.
According to a recent report from an investment wallet with financial assets, Bitcoin is once again the best asset for the month of July and even for the year after a new rise.
This is not the first time that Bitcoin has been highlighted as the best investment for a certain period of time, but it is certainly significant that it keeps happening.
In the past, Bitcoin has already outperformed stocks, commodities, and even other cryptocurrencies.
And now, once again, it is being considered as the best investment option for the near future.
The reason behind this is simple: Bitcoin’s price continues to rise despite all the negative news surrounding it.
According to Valor Econômico, which tracks the performance of several assets in the Brazilian financial market, Bitcoin was the worst investment for three months. The sequence of market declines came after the digital currency hit an all-time high in April.
Thus, the price of Bitcoin closed the month of July with an increase of 22.71% against the Brazilian Real. The cryptocurrency ended up having the best performance in the month, beating investments in B3 Gold (7.25%), Ibovespa (-4.77%) and even in dollar market (3.86%).
The values calculated by Valor already discount the IPCA for the period, that is, it shows that the cryptocurrency reserve of value continues to be interesting for Brazilians who are experiencing an inflation rate of 8.35% in the last 12 months.
In the accumulated result for the year, the price of Bitcoin has already risen 30.84% in relation to the Real, a significant increase that is far from other assets in the traditional market.
Bitcoin rise draws the market’s attention in July after a sequence of falls
Even with drops in three months, Bitcoin is still a profitable “application” for those who believe in the technology. In 2020, he was the champion of gains in the Brazilian market, which saw an increase of 300% against the Real.
In the last 24 hours, the new high of the cryptocurrency has again attracted attention, with the price reaching US$ 42,500 in several brokers around the world. In Brazil, the price reached over R$ 220 thousand, a value that had not been seen since May 20, when the maximum of the day reached R$ 226,000.
The end of July shows that the cryptocurrency market returned to operating at a high in Brazil, once again outperforming other assets, with Bitcoin being the protagonist of investments.
The factors that boosted the market’s morale this month were mainly Amazon’s possible entry into the sector, the purchase of Bitcoin by SpaceX, announced by Elon Musk, and the increase in withdrawals from brokers, a fundamentalist metric that usually indicates that the market has given up on sell/trade the currencies.
In relation to the Dollar, Bitcoin’s increase was 23.6% in the last seven days, being the highest among the ten main cryptocurrencies.
It is worth noting that the new rise of the BTC in the market still increased confidence in this currency, which ended up receiving a dominance of 48% in the last 30 days and the biggest since the 22nd of June.