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Visualized: Bitcoin Returns vs. Major Asset Classes

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See this visualization first on the Voronoi app.

This graphic shows bitcoin's performance compared to other major assets over the last decade

Bitcoin Returns vs. Major Asset Classes

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The crypto winter finally came to an end in 2023, as bitcoin soared 156% over the year.

Not only did the cryptocurrency outperform all major asset classes, it saw its best year since 2020. Several factors drove prices higher, including anticipation for the launch of 11 bitcoin ETFs, which would make crypto more accessible to a broader investor base.

This graphic shows bitcoin returns compared to major asset classes, based on data from iShares.

How Bitcoin Stacks Up

Below, we show annual bitcoin returns, highlighting the outsized volatility compared to assets like stocks, bonds, and commodities:

Asset Returns2023 20222021
Bitcoin+156%-65%+58%
S&P 500+25%-20%+29%
High Yield Corporate Bonds+12%-11%+5%
Gold+12%+1%-6%
Emerging Markets+9%-18%+0%
Bonds+5%-12%-1%
Commodities-2%+20%+30%

As a risk asset, bitcoin jumped in value given hopes that the Federal Reserve would cut interest rates in 2024.

Positive sentiment also increased leading up to the halving event in 2024, which happens every four years. Halving is the process where the reward for mining a bitcoin is halved, which means that miners are awarded 50% lower rewards for verifying transactions. In turn, this reduces the rate of money supply growth, which may cause prices to rise if demand remains elevated.

By comparison, the S&P 500 posted 25% returns in 2023, rising above its historical average of 11.5% while U.S. bonds saw 5% returns.

Bitcoin Returns Over the Last Decade

From a longer perspective, here’s how bitcoin has performed since 2013:

YearBitcoin Performance
20135,516%
2014-58%
201537%
2016119%
20171,300%
2018-73%
201992%
2020302%
202158%
2022-65%
2023156%

On average, it has returned 671% per year, with the strongest returns in 2013 when it skyrocketed over 5,000%—climbing from $13 to $1,100.

Between 2017 and 2019, bitcoin saw another impressive run as prices climbed to $20,000 as it become more well known to the wider public. At the same time, a wave of cryptocurrencies entered the market. Later, in 2021, bitcoin reached all-time highs of $64,899, launching into a $1 trillion asset class.

Whether or not bitcoin continues to rally is anyones guess, but several factors look promising given new regulatory approvals for ETFs, potential monetary easing, and the upcoming halving event in April 2024.

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Mapped: The World’s Least Affordable Housing Markets in 2024

See which housing markets are considered ‘impossibly unaffordable’ according to their median price-to-income ratio.

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The World’s Least Affordable Housing Markets in 2024

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Many cities around the world have become very expensive to buy a home in, but which ones are the absolute most unattainable?

In this graphic, we highlight a number of housing markets that are deemed to be “impossibly unaffordable” in 2024, ranked by their median price-to-income ratio.

This data comes from the Demographia International Housing Affordability Report, which is produced by the Chapman University Center for Demographics and Policy.

Data and Key Takeaway

The median price-to-income ratio compares median house price to median household income within each market. A higher ratio (higher prices relative to incomes) means a city is less affordable.

See the following table for all of the data we used to create this graphic. Note that this analysis covers 94 markets across eight countries: Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Hong Kong (SAR)🇨🇳 China16.7
2Sydney🇦🇺 Australia13.8
3Vancouver🇨🇦 Canada12.3
4San Jose🇺🇸 U.S.11.9
5Los Angeles🇺🇸 U.S.10.9
6Honolulu🇺🇸 U.S.10.5
7Melbourne🇦🇺 Australia9.8
8San Francisco🇺🇸 U.S.9.7
9Adelaide🇦🇺 Australia9.7
10San Diego🇺🇸 U.S.9.5
11Toronto🇨🇦 Canada9.3
12Auckland🇳🇿 New Zealand8.2

According to the Demographia report, cities with a median price-to-income ratio of over 9.0 are considered “impossibly unaffordable”.

We can see that the top city in this ranking, Hong Kong, has a ratio of 16.7. This means that the median price of a home is 16.7 times greater than the median income.

Which Cities are More Affordable?

On the flipside, here are the top 12 most affordable cities that were analyzed in the Demographia report.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Pittsburgh🇺🇸 U.S.3.1
2Rochester🇺🇸 U.S.3.4
2St. Louis🇺🇸 U.S.3.4
4Cleveland🇺🇸 U.S.3.5
5Edmonton🇨🇦 Canada3.6
5Buffalo🇺🇸 U.S.3.6
5Detroit🇺🇸 U.S.3.6
5Oklahoma City🇺🇸 U.S.3.6
9Cincinnati🇺🇸 U.S.3.7
9Louisville🇺🇸 U.S.3.7
11Singapore🇸🇬 Singapore3.8
12Blackpool & Lancashire🇬🇧 U.K.3.9

Cities with a median price-to-income ratio of less than 3.0 are considered “affordable”, while those between 3.1 and 4.0 are considered “moderately unaffordable”.

See More Real Estate Content From Visual Capitalist

If you enjoyed this post, be sure to check out Ranked: The Most Valuable Housing Markets in America.

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