Bitcoin and Ethereum Both Delivered Roughly 20x Returns Since 2018 Lows

Nearly eight years have passed since the crypto market bottomed out in 2018, and Bitcoin and Ethereum holders who entered the market at that time have now reaped astonishing returns. Data shows that, as of now, Ethereum has cumulatively risen 2,269% from its December 2018 low, while Bitcoin has risen 2,006%, a difference of only 263 percentage points. Against the backdrop of more than 20 times the total return, this gap seems insignificant.

In terms of trends, the two assets have fluctuated almost synchronously over the past seven years. Whether it was the initial recovery in 2019, the consolidation and accumulation in 2020, or the bull market frenzy in 2021, Bitcoin and Ethereum maintained a highly consistent upward rhythm. Even during the significant market correction in 2022, the two also fell in sync, with neither showing a long-term significant lead. It is worth noting that current discussions about Ethereum underperforming Bitcoin are often based on performance since the 2021 high. However, if the observation period is pulled back to the market bottom in 2018, the conclusion is quite different—Ethereum has actually achieved a slight excess return over this longer time dimension. For example, if $10,000 was invested in Bitcoin or Ethereum in December 2018, the former would now be worth approximately $210,600, while the latter would have risen to approximately $236,900. Although the difference is $26,300, this difference does not constitute a decisive advantage in a total return of nearly 20 times. The market low in 2018 can be described as a golden entry opportunity for a generation of investors. Both Bitcoin and Ethereum have proven their long-term value as core crypto assets in this cycle. Time is the key measure of true wealth accumulation.