Gold, Bitcoin, Share Market
What havoc the prices of gold and silver have wreaked in the current year is not hidden from anyone. Despite a decline of 7 to 9 percent from their peak, both the asset classes have not caused any loss to investors. On the other hand, there is no big rise in the stock market and despite being below its peak, Sensex and Nifty have not allowed investors to suffer losses. Kept in profit only. On the contrary, Bitcoin, which gives huge returns to investors every year, was growing with returns of 30 to 35 percent in the current year.
It had crossed the level of 1.25 lakh dollars in the month of October, since then there has been a continuous decline in Bitcoin. The special thing is that Bitcoin has started giving negative returns in the current year. Now the biggest question is whether there is a possibility of further decline in the prices of Bitcoin? The next question is, how did Bitcoin fall so much? Also, how far has Bitcoin lagged behind gold, silver and the stock market in terms of returns?
Big fall in the price of Bitcoin
The world’s largest cryptocurrency has seen a big decline in the last more than a month. The special thing is that since reaching the peak on October 7, the price of Bitcoin has fallen by 40 percent. According to Coin Market data, the price of Bitcoin was seen at $89,970.22 in the last 24 hours. Whereas on October 7, the price of Bitcoin reached $ 1,26,198.07 per ounce. Since then, the price of Bitcoin has seen a decline of more than 36 thousand dollars. If we talk about the current year, the price of Bitcoin on the last trading day of last year was $ 93429.20, which means that in the current year Bitcoin has caused a loss of about 4 percent to the investors. Whereas till October 7, it had given a return of about 35 percent to the investors.
Gold brought huge income
If we talk about gold in the current year, it has generated huge income. That too at a time when it is trading at about 7 to 8 percent less than its lifetime peak in the last one month. In the futures market of the country, the price of gold on the last trading day of last year was Rs 76,748 per ten grams, which has currently reached Rs 1,23,601 per ten grams. This means that so far in the current year, gold prices have given a return of 61 percent. However, after reaching its life time high i.e. Rs 1,32,294 on October 17, gold is trading at about 7 per cent lower level. By the way, till October 17, gold had given returns of more than 72 percent to the investors.
Silver gave tremendous returns
Even though silver is trading at around Rs 15,000 less than its life time high, there was a time when silver had given more returns to investors than gold. Apart from this, it had also left Platinum behind in terms of giving highest returns in the current year. If we look at the data of the country’s futures market Multi Commodity Exchange, silver was at Rs 87,233 on the last trading day last year. Which is currently being seen at Rs 1,56,800 per kg. This means that silver has given 80 percent returns to investors so far in the current year. Whereas about a month ago i.e. on October 17, the price of silver had come down to Rs 1,70,415. Since then, there has been a decline of about 9 percent in silver prices. However, till October 17, silver had given returns of more than 95 percent to investors.
Sensex is also better than Bitcoin
On the other hand, the stock market has not done anything special in the current year. But at present, in terms of giving returns, Sensex is in a better position than Bitcoin. If we look at the figures, Sensex has given a return of about 9 percent to the investors in the current year. If we look at the data, on the last trading day of last year the Sensex was at 78,139.01 points, which has come down to 85,096.46 points today. This means that the Sensex has seen a rise of 6,957.45 points. However, last year the Sensex had reached a life time high of 85,978.25 points on September 27. From there the Sensex is trading with a decline of about 1 percent.
Nifty also did wonders
On the other hand, if we talk about Nifty, it has also given much better returns in comparison to Bitcoin. Whereas in comparison to gold and silver, much less has been seen. According to stock market data, Nifty had closed at Rs 23,644.80 on the last trading day of last year, which has come down to 26,038.90 points on November 19. This means that Nifty has given a return of 10.12 percent to the investors in the current year. This means that Nifty has seen a rise of 2,394.1 points. Whereas on September 27, Nifty had reached life time high with 26,277.35 points. However, Nifty is currently trading with a decline of 0.91 percent.