Bitcoin (BTC) Still Outpaced Apple since January Last Year despite the Recent Price Crash

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Back in January 2017, the United States stock market experienced one of the biggest bullish markets in history. The bull markets helped tech stocks such as Apple and Alphabet to attain record highs. In the last two years, Apple (AAPL) has seen a considerable increase in its stock value. The stock value of the firm increased by 43.7%, bringing its value to $165 from $115.

Also, the parent firm of Google – Alphabet (GOOGL) – saw an increase of 32.7 percent in its shares. The share of the firm increased to $1,071 from $792. In the course of this period, the value of Bitcoin (BTC) surged to $3,155 from $1k. This is an increase of 215 percent, despite the fact that the digital currency has lost more than 80 percent of its value in the recent market crash.

What’s the Fate of Bitcoin (BTC) Amidst the Market Crash?

Bitcoin (BTC) has seen a lot of naysayers and critics since its emergence. The digital currency has been criticized by many, with some calling it a scam. As the value of Bitcoin (BTC) continues to crash further against the USD, a lot of critics are claiming that the digital currency will fall to zero by losing all its value.

Nevertheless, such claims didn’t consider the unusually strong growth of the digital currency over the past year. In the previous year, Bitcoin (BTC) surged from $1k to almost $20k. This is an increase of more than 1,850 percent in less than 12 months.

In any market, an increase of such magnitude is usually accompanied by a long-lasting downward trend and months of consolidation period. All markets usually go through bearish and bullish cycles. This year, the Dow Jones and top tech forms stocks such as Alphabet, Facebook, and Apple lost all the gains they have amassed in an intense market selloff.

According to the Chief Technology Officer of Coinbase – Balaji Srinivasan: “The reason digital currencies really had swings was after 2011 when the crypto market experienced a bubble and an upsurge in value, and it came down and didn’t head to zero. The market stabilized and kept coming back up. Around that period was when I said ‘okay, digital currencies are going to be around, it’s got wings, it’s not heading to zero.’

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$0.00-0.15%

Basically, the growth of traditional stocks and digital currencies are pioneered by different catalysts. But every market goes through a bearish and bullish cycle, especially after an enormous growth rate that can’t be attained on the long-run. In the last 11 years, Apple has experienced 4 huge corrections. Every correction brings the share value down by 30%.

Similarly, Bitcoin (BTC) has gone through 5 major corrections. Every correction brings the value of the digital currency down by about 85%. On average, it took Bitcoin (BTC) sixty-five weeks to recover and attain its all-time high. The market is driven mainly by investors’ demands. If investors believe the market can’t experience a massive price surge all through the year, even some of the biggest markets can experience sharp selloffs – a similar trend was seen in the performance of the Dow Jones over the past week.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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