Cryptoharian – In the midst of a bear market that hit risky assets such as stocks and cryptocurrencies, Bitcoin (BTC) has actually managed to set a trading record, which is more than double that of Apple Inc. shares. in the last month.
In the 30 days closed on July 22, Apple stock had an average daily trading volume of about US$11.6 billion. Meanwhile, BTC at the same time had an average daily trading volume of around US$27.7 billion.
Launching finbold.com, amid a bear market, BTC trading volume has grown better, at least from stocks of big tech companies like Apple. This growth is seen up to 2.3 times.
Even though I was dragged down very deep when crash In the crypto market, Bitcoin price has been able to build on a recovery attempt early in the Second Half of 2022. Additionally, Bitcoin continues to print new short-term highs that have recently undergone some normal correction.
Of course, this can still be expected to continue in a bullish attempt, as long as important levels are not broken below, such as the US$20,000 and US$21,000 levels.
Moreover, the correlation between Bitcoin and Nasdaq still looks high amid fears of higher inflation in the US, including recession fears.
Although both were dragged down quite deep, Bitcoin proved successful in maintaining superior trading volume. This is, as it were, driven by factors such as the ability to trade on a full seven-day basis.
Judging from this correlation, Bitcoin and Nasdaq have recorded extraordinary growth in 2021, and both corrected greatly in 2022. This certainly illustrates the point of view of investors who are still the same, namely on global economic sentiment caused by the Fed’s aggressive policies.
Although the two are based on different fundamentals, in the end it will return to the risk appetite of investors, to be prepared for various things that exist such as inflation, recession and so on. Moreover, the energy crisis is still looming, when the conflict between Ukraine and Russia is still one of the main causes.
Bitcoin has now become a strong competitor for technology stocks, one of which is Apple. The value of BTC may already be “paralleled” with stocks in the eyes of some investors. [St]