Crypto Outperforms All Assets in 2023 Despite Market Crash


2023 has witnessed a remarkable turnaround in many investment assets compared to the volatility and downturns of 2022. According to a recent investment index report by Forex Suggest, cryptocurrencies and tech stocks have staged remarkable comebacks, with some assets nearly tripling in value over the past six months.

The report analyzed the performance of major stock indexes, company shares, cryptocurrencies and forex pairs between January and July 2023. Crypto assets such as Bitcoin Cash (BCH) and Solana (SOL) experienced triple-digit percentage gains, indicating renewed confidence following the crypto winter of last year. Bitcoin Cash skyrocketed nearly 200%, from $96.96 to $290.78, while Solana and Bitcoin increased 87% and 84%, respectively.

Tech stocks have also seen a resurgence after last year’s plunge, as companies specializing in AI, gaming, data centers and electric vehicles capitalize on surging demand. NVIDIA’s share price almost tripled, rising 196%, followed closely by Tesla at 159%. Other tech titans like Microsoft, Apple and Amazon experienced 40-50% jumps.

The Nasdaq led the way with a 33% gain, followed by Japan’s Nikkei 225 at 31%, and Germany’s DAX at 14%. Commodities indexes, however, fell 8-9%, and the U.S. real estate market saw single-digit gains. The S&P 500 rallied significantly, increasing 16.5%.

Forex traders benefited from the weakening of the US dollar in 2023. The Sri Lankan rupee provided the highest returns against the dollar at 18.5%, followed by the Colombian peso at 15.7%.

According to Schoeman, the tech rally could continue through 2024 as AI expands. Nonetheless, crypto markets remain unpredictable, and geopolitical tensions and climate change could heighten market unpredictability in the future.

This report provides an insightful look into the performance of investment assets halfway through 2023. Despite the uncertainty of the future, investors in tech stocks and digital currencies are presented with strong opportunities for returns after a difficult 2022.

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