Forget Bitcoin: These Growth Stocks Can Run Circles Around Crypto
This has been a trying year for Wall Street and the investment community. Though volatility is always present in the stock market, the swings we’ve witnessed this year are far beyond historical norms. For instance, the uncertainty caused by the coronavirus disease 2019 (COVID-19) initially sent the benchmark S&P 500 lower by 34% in less than five weeks. For some context, it’s taken the S&P 500 an average of 11 months to decline 30% during previous bear markets.
But not all assets have been clobbered by COVID-19 concerns. The most popular cryptocurrency on the planet, bitcoin, has been virtually unstoppable this year. By the early afternoon of Wednesday, Nov. 18, bitcoin was up 148% on a year-to-date basis, which is considerably better than the year-to-date return of 10% for the broad-based S&P 500.
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