Bitcoin has once again taken the investment world by storm, as it recorded a remarkable performance in the first quarter of 2023. According to Bloomberg, Bitcoin was one of the best-performing assets, outpacing major investment products in the same period.

Bitcoin’s Q1 performance is quite impressive, given that it rose by about 70%, marking its best quarterly performance in two years. This is a significant improvement from its 103% return at the end of the Q1 2021 bull market. On the other hand, major investment products such as NASDAQ 100, gold, S&P 500, and STOXX Europe 600 failed to match Bitcoin’s performance, as they all recorded a lower increase in value.

Bitcoin performance against other asset classes. Source: Bloomberg

Market analyst Noel Acheson attributed Bitcoin’s success to the foundation it has been building for a rally since the end of 2022. According to Acheson, Bitcoin’s performance is not surprising, given the recent developments in the cryptocurrency market. In addition, the possibility of additional interest rate hikes by the US Federal Reserve System being raised again as a response to inflation could have contributed to Bitcoin’s rise.

It is also worth noting that Bitcoin’s performance was further boosted by the increased interest in cryptocurrency as an alternative to the centralized currency system. This is particularly true following the bankruptcy of Silvergate Capital, Signature Bank, and Silicon Valley Bank, which affected the confidence of investors in traditional banks.

In summary, Bitcoin has regained momentum in 2023, and its remarkable performance has surpassed major investment products. With the increasing interest in cryptocurrency, it is expected that Bitcoin’s performance will continue to attract investors’ attention in the coming months.

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This article was republished from azcoinnews.com

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Bitcoin has been the flagship cryptocurrency for over a decade, but since the emergence of Ethereum and its native token, Ether, many analysts have compared and contrasted the two cryptocurrencies. Recently, Tuur Demeester, a board member of the Bitcoin Texas Foundation, explained why he is bearish on Ethereum compared to Bitcoin. He claimed that he is "shorting" Ethereum against Bitcoin, meaning he is betting that the price of Ethereum will fall in comparison to Bitcoin. Demeester detailed 7 reasons why he thinks Ethereum will depreciate compared to Bitcoin.

Demeester mentioned the "sell the news" strategy. This is an investment tactic that relies on market reaction to important events or announcements. Investors often buy a cryptocurrency on rumors or speculations of significant events or developments, and when the news is finally confirmed, the price of the asset drops, as investors sell their positions to make quick profits. This happened after Ethereum's Merge in September 2022, which was a significant event that caused a lot of anticipation. However, after the Merge, there are no more similar events of comparable magnitude to boost the price of ETH.

Demeester warned about the legal storm for "DINO" cryptocurrencies, which stands for "decentralized in name only." Demeester believes that all cryptocurrencies that are not truly decentralized will fall victim to regulations. Although he did not clarify, it could be inferred that he believes Ethereum falls into this category due to its founder Vitalik Buterin's significant influence over the network's decision-making and the powerful organization that finances Ethereum's development.

Demeester pointed out that the narrative of "digital gold" is more robust than that of "Web3," which is Ethereum's slogan. Digital gold is a term used to describe Bitcoin as a store of value similar to gold. Demeester believes that the narrative of Bitcoin as digital gold is stronger and more appealing to investors than Ethereum's narrative of Web3, which focuses on creating decentralized applications and smart contracts.

Demeester highlighted that Ethereum is experiencing high gas fees due to the growing number of transactions on the network. Gas fees are the transaction fees that users pay to miners to process their transactions on the Ethereum network. High gas fees make it more expensive to use Ethereum, which could drive users away from the network and towards other alternatives.

Demeester argued that Bitcoin has a stronger network effect than Ethereum. The network effect is a phenomenon where a product or service becomes more valuable as more people use it. Bitcoin has been around longer than Ethereum and has a larger user base, which makes it more valuable and robust than Ethereum.

Demeester noted that the Lightning Network, a second-layer protocol built on top of Bitcoin, is making significant progress in improving Bitcoin's scalability and reducing transaction fees. The Lightning Network allows for faster and cheaper transactions on the Bitcoin network, making it more attractive to users and investors.

Demeester cited the "digital silver" narrative as a weakness for Ethereum. Digital silver is a term used to describe Litecoin, which is often considered the "silver to Bitcoin's gold." Demeester believes that Ethereum is more like digital silver than digital gold, which could limit its growth potential compared to Bitcoin.

In conclusion, Demeester believes that these seven factors make Bitcoin a better investment than Ethereum in the long run. While his views are subjective and debatable, they offer valuable insights into the cryptocurrency market and the competition between Bitcoin and Ethereum.

Discover daily habits to support mental acuity, calmness, and multitasking skills needed to excel in the high-paced world of crypto trading

In previous articles, we explored the best supplements to support the mental acuity, calmness, and multitasking skills required to excel in the fast-paced world of crypto trading. While supplements can provide valuable support, incorporating daily habits into your routine can further enhance trading performance and overall cognitive function. In this article, we'll dive into the top 5 daily habits to boost your crypto trading performance.

1. Establish a Consistent Sleep Schedule

Adequate sleep is crucial for optimal cognitive function, focus, and decision-making. To ensure you're getting enough rest, establish a consistent sleep schedule by going to bed and waking up at the same time each day. Aim for 7-9 hours of sleep per night, and create a relaxing bedtime routine to help you wind down and prepare for a good night's rest.

2. Engage in Regular Physical Activity

Exercise has numerous benefits for both physical and mental health. Engaging in regular physical activity can boost your energy levels, improve mood, and enhance cognitive performance. Aim for at least 150 minutes of moderate-intensity aerobic exercise or 75 minutes of vigorous-intensity aerobic exercise per week, along with strength training exercises for all major muscle groups twice per week.

3. Practice Mindfulness and Meditation

Mindfulness and meditation can help reduce stress, improve focus, and promote overall mental well-being. Incorporating a daily mindfulness or meditation practice into your routine can help you stay calm and focused during high-pressure trading situations. Even just a few minutes of focused breathing or meditation each day can have a positive impact on your trading performance.

4. Set Clear Goals and Prioritize Tasks

Setting clear goals and prioritizing tasks can help you stay focused and maintain a sense of direction in the fast-paced world of crypto trading. Begin each day by reviewing your goals and creating a prioritized to-do list. Break larger tasks into smaller, more manageable steps, and focus on completing one task at a time to avoid feeling overwhelmed.

5. Take Regular Breaks and Practice Self-Care

Taking regular breaks and practicing self-care is essential for maintaining mental balance and preventing burnout. Schedule short breaks throughout your trading day to step away from the screen, stretch, and take a few deep breaths. Additionally, ensure you're carving out time in your schedule for activities that bring you joy and relaxation, such as hobbies, spending time with loved ones, or simply taking a walk in nature.

In conclusion, incorporating these daily habits – establishing a consistent sleep schedule, engaging in regular physical activity, practicing mindfulness and meditation, setting clear goals and prioritizing tasks, and taking regular breaks for self-care – can have a significant impact on your trading performance and overall well-being. By prioritizing mental and physical health, crypto traders can give themselves the best possible chance of success in the competitive and fast-paced cryptocurrency market.

#crypto2023 #Binance #btcsoaring #trading

As the world of cryptocurrency continues to gain momentum, the value of Bitcoin has been a topic of discussion for investors and enthusiasts alike. The latest data from CryptoQuant has revealed that there has been a significant decrease in the realized cap of Bitcoin, which is indicative of the spending behavior of Bitcoin holders.

Realized cap is a metric that measures the value of the currency by capturing the value stored as the values of the network and removing the lost unmoved currencies for a long time on a network. It differs from market cap in that it takes into account the spending behavior of Bitcoin holders.

According to the data by CryptoQuant, there is a large difference between the market cap and the realized cap, which suggests that most owners of Bitcoin may make a profit at any possible moment. The decrease in the realized cap is mainly due to short-term currency holders who have held the currency for one week to one month and then from six months to 18 months.

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The total expenditure on Bitcoin amounted to $11 billion, which is a significant amount, and it indicates that the spending behavior of Bitcoin holders is crucial to determining the value of the cryptocurrency.

The decrease in the realized cap of Bitcoin has implications for investors and traders, as it suggests that Bitcoin holders are actively spending their holdings. This behavior may have an impact on the value of the cryptocurrency in the short term, as it may lead to a decrease in demand.

However, in the long term, the spending behavior of Bitcoin holders may be seen as a positive sign for the cryptocurrency. It suggests that Bitcoin is being used as a medium of exchange, which is one of the main functions of any currency.

As the cryptocurrency market continues to evolve, the behavior of Bitcoin holders will be closely watched by investors and traders. The latest data from CryptoQuant provides valuable insights into the spending behavior of Bitcoin holders and may help to inform investment decisions in the future.

#bitcoin #BTC #btcsoaring #crypto2023 #azcoinnews

This article was republished from azcoinnews.com