Payment comparison website Merchant Machine has just released a large study about the rise and fall of Bitcoin and other top 10 cryptocurrencies from 2014-2018.
Here are the top 10 findings:
- Despite Bitcoin’s meteoric rise in price, it has never been the best performing cryptocurrency on an annualised basis.
- Bitcoin’s share of the cryptocurrency market peaked in 2016, where it was 91% of the market and until 2018 it had never been less than 79% of the cryptocurrency market by value.
- 2014-2015 was the worst year to be a cryptocurrency investor. A $100 investment in each of the top 10 currencies would have resulted in a $831 loss over the year. However, if you had stuck it out until 7 Jan 2018, your initial $1,000 investment would have been worth $15,802.
- 2016 was the best year to get into the market. A $100 investment in each of the top 10 coins at the time would have been worth $312,326 by 7 Jan 2018.
- The second best year to get in the market was the start of 2017. A $100 investment in each of the top 10 coins at the time would have been worth $95,659, just 1 year later.
- Ripple was the best performing currency in both 2014 and 2017.
- In 2015, Litecoin had the best 1 year return, although Stellar Lumens had the best return from 2015-2018.
- Ethereum was the best performing currency of 2016.
- Only Bitcoin, Ripple and Litecoin appear in the Top 10 list for all years.
- While the greatest total number of new coins were added between 2017 and 2018 (738; 119% YoY increase) the big explosion happened between 2014 and 2015, when the total number coins increased by 633%.
You can read the full report here: https://merchantmachine.co.uk/cryptocurrencies/
- Contact Name:
- Ian Wright
- Merchant Machine
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