Mohamed El-Erian Says November Was ‘Strongest Month’ Of The Year For Bitcoin As Top Crypto’s YTD Gains Dominate Gold
Posted On December 2, 2024
Influential Economist Mohamed El-Erian highlighted the strong performance of cryptocurrencies and equities in November while emphasizing losses in the gold and oil markets.
What Happened: El-Erian, who is the Chief Economic Advisor at Allianz, took to X Saturday to showcase the year-to-date performance of major asset classes.
He pointed out that November had been the strongest month of the year for Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency, and the blue-chip stock market index S&P 500.
Bitcoin’s year-to-date gains zoomed past 127% by November-end, a sharp increase from 64% in October. In fact, the apex cryptocurrency’s yearly gains have already outpaced those of 2021 and 2022.
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