Bitcoin would be the best performing asset of the moment, when risk and volatility are taken into account. This is the conclusion of an analysis by Goldman Sachs, which crowns BTC this month. Will the good times last for the largest cryptocurrency
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Goldman Sachs calls Bitcoin (BTC) the best asset of the moment
The analysis, part of which was shared by the Twitter account Documenting Bitcoin, shows that Bitcoin’s performance is particularly good, if you take into account the Sharpe ratio. The latter evaluates the performance of an asset or investment by taking into account the risk that the investor takes. And in this game, it would be BTC that would come out on top :
₿REAKING: Bitcoin is the best performing asset in the world this year, according to latest data by Goldman Sachs pic.twitter.com/vh7f7UIloi
– Documenting ₿itcoin (@DocumentingBTC) January 23, 2023
BTC would therefore outperform gold, US Treasuries, and the S&P 500. Note that the analysis is done since the beginning of 2023.
Bitcoin price above $23,000
The price of BTC has taken off since the beginning of January, with a +41% increase. It seems to be holding above the $23,000 mark for the time being, after breaking through the psychological $20,000 mark mid-month:
BTC price takes off since the beginning of January
Positive signals are also present from the miners, who are back in the green in terms of BTC production. Their return is visible in the average hashrate of the Bitcoin network, which has risen significantly since the beginning of the month:
Will the good weather last? A few days ago, we mentioned a bullish price target of $26,730. But the most pessimistic are talking about a return to $14,000 before starting a new bullish cycle. This morning, BTC is trading at around $23,000, with a market capitalisation of over $443 billion
