Apple (AAPL) Holds the Edge By Outperforming Bitcoin (BTC) On Yearly Chart
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2021 has been a pretty good year for Wall Street as well as the crypto market. On Monday, January 3, the market soared to an all-time high of the first trading day of the year with Apple Inc (NASDAQ: AAPL) joining the party.
The AAPL stock also surged to a new all-time high thereby becoming the first-ever company to hit a $3 trillion milestone. With this move, the world’s largest company managed to outperform the world’s largest cryptocurrency on a yearly chart.
While the gains of AAPL stock over the last year stand at a staggering 40%, the gains for Bitcoin stand at 38%. Needless to say that Apple investors have been enjoying these gains with much lesser volatility and greater peace of mind.
But one must not forget that Bitcoin has still managed to beat several other asset classes once again. Furthermore, Apple is one case in isolation as Bitcoin has managed to outperform several other tech giants over the last year.
What’s In Store for Bitcoin in 2022?
The Q4 of 2021 didn’t prove to be as bullish as many investors had expected the BTC price to touch $100K levels. Bitcoin remained volatile over the last quarter and traded sideways for the entire December of 2021 after hitting an all-time high of $69,000 in the previous month.
Some analysts also believe that Bitcoin could be extending this rally till the mid-half of 2022. While hopes remain high, the broader crypto market has yet to participate in the New Year party as witnessed on Wall Street.
On the other hand, Bitcoin’s on-chain metrics continue to show strength. The illiquid BTC supply has touched an all-time high, meaning, a lot of BTC is moving off exchanges and into cold storage.
Furthermore, the Bitcoin network has fully recovered from China’s Bitcoin mining ban. Over the last weekend, the BTC mining hashrate has touched a new all-time high suggesting increased miner participation.
Let’s know if you think that Bitcoin can still touch $100K levels this year or not.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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