Traverbit’s analytical team summed up the results of Q1.
Traverbit published a report analyzing the market situation in Q1. The experts emphasize that:
“Bitcoin once again outperformed all assets popular with institutional investors, rising 103% in the first three months of this year. Gold, whose price dynamics have often been described as correlating with the rate of bitcoin, showed the worst result, falling by 10% in the first quarter.
Traverbit expert drew attention to the success of a number of altcoins during this period. Thus, Dogecoin (DOGE), which occupies only 0.6% in the capitalization of all digital assets, shows great positive dynamics – plus 1,064%.
Interestingly, the success of DOGE is largely due to the activity of investors in social media. In particular, the Dogecoin community ranks third among cryptocurrency communities on the Reddit social network in terms of the number of subscribers, leaving behind only two groups dedicated to the discussion of cryptocurrencies in general and bitcoin in particular.