The post Bitcoin Outperforms in the Last 12 Months Despite Miner Struggles, Surges 124% Since September 2023 appeared on BitcoinEthereumNews.com.

Bitcoin Outperforms in the Last 12 Months Despite Miner Struggles, Surges 124% Since September 2023 Over the past 12 months, Bitcoin has solidified its dominance in the cryptocurrency market, rising an impressive 124% since September 2023, according to a report shared by Cointelegraph and VanEck. Despite challenges faced by Bitcoin miners, the leading cryptocurrency now holds 56% of the total crypto market cap, up 15% from a year ago. With a total capitalization of $1.25 trillion, Bitcoin continues to outperform most other asset classes, reflecting its growing strength as a store of value and a critical asset in the global financial system. Bitcoin’s Continued Outperformance in the Market Since September 2023, Bitcoin has outpaced other major asset classes, signaling its resilience in the face of broader market volatility. The VanEck report highlights Bitcoin’s strong market performance, noting that the cryptocurrency has seen a 124% price increase over the past 12 months, positioning it as one of the top-performing assets in the world. Bitcoin’s total market capitalization now stands at $1.25 trillion, representing 56% of the overall cryptocurrency market—a 15% increase in its market share compared to the previous year. This growth in dominance underscores the increasing trust and adoption of Bitcoin as a store of value, as institutional and retail investors alike continue to turn to the digital asset in response to economic uncertainty and inflationary pressures. Shifting Trends: Bitcoin’s Role as a Store of Value The report by VanEck suggests that Bitcoin’s recent performance is not driven by short-term, retail-driven trends, as was the case in 2023, but rather by its growing reputation as a store of value. This shift in perception has encouraged more institutional adoption, with large-scale investors viewing Bitcoin as a hedge against inflation and a digital alternative to gold. The rising demand for Bitcoin ETFs…

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Filed under: News - @ September 21, 2024 9:18 am