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Bitcoin (BTC) Outperforms Apple (AAPL), Tesla (TSLA) and Gold (XAU): Crypto Trader

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Tue, 01/28/2020 - 10:09
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  • Crypto trader shares data revealing that since January of last year BTC has outpaced the share price of market giants, such as Tesla, Apple and Facebook, as well as gold

Cover image via 123rf.com
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Despite the crypto winter that lasted throughout 2018, the Bitcoin price reversed in 2019 and at one point came close to the $13,000 mark ($12,892, July 10). After that, all the bulls could do was push the BTC price slightly above the $10,000 level. Still many analysts spoke about BTC growing a great deal in 2019.

Now, a crypto trader has stated that BTC has outperformed the share prices of global heavyweights and gold, itself.

Apple, Tesla, Facebook, gold fail to match BTC gains

Trader and investor @BTC_Macro has tweeted that over the last year Bitcoin outpaced such global giants as Facebook (with its unsuccessful Libra project so far), Apple, gold and Tesla (with its cyber truck launched in 2019).

As per the trader, Apple has done the best among these companies (gaining 115 percent), followed by Facebook (+85 percent) and Tesla (+80 percent).

Gold, which the Euro Pacific Capital CEO Peter Schiff likes to mention as superior to Bitcoin, gained 19 percent last year, whereas Bitcoin grew by 140 percent. Finally, he says:

“BTC remains the greatest investment opportunity in the world.”

BTC 1
Image via Twitter

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Bitcoin rallies 8 percent over the weekend: VanEck’s exec

The digital assets director at VanEck, Gabor Gurbacs, has tweeted that over the past weekend traditional markets were closed down. However, last week, as well as now, the Chinese coronavirus has been impacting both the Chinese and the US stock markets negatively.

However, Gabor Gurbacs says that Bitcoin has added eight percent to its market value. He believes this is enough to consider BTC a safe haven.

BTC 2
Image via Twitter
BTC virus
Image via Twitter

Meanwhile, Peter Schiff keeps insisting that Bitcoin is not money. Nor is it a store of value, he tweeted.

"I was right that it's not money, as it's neither a medium of exchange nor a store of value.”

‘BTC must succeed without wars or viruses’

Some in the crypto community believe that being happy with BTC rises during global disasters, such as wars, viruses or economic instability is not right.

Many experts think that the recent events, such as the US-Iran conflict, the US-China trade war and now the Chinese coronavirus are helping the BTC price grow and remain at the new highs.

BTC 3
Image via Twitter

 

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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  • A lone whale was able to move the BTC price by more than $400 on the Kraken exchange

Cover image via stock.adobe.com
Contents

The Bitcoin price briefly surged to €6,190 (about $6,800) on Kraken after a lone whale bought more than 1,000 BTC.

At press time, the benchmark cryptocurrency is changing hands at $6,469 on the exchange.  

Kraken
image by reddit.com

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Whales pull all the strings 

While it's tempting to assume that a major whale has decided has reentered the market after BTC's disastrous performance in March, deep-pocketed holders are prone to manipulating prices to make easy money. Hence, traders should be cautious not to appear on the wrong side of another sell-off.    

As reported by U.Today, there was a theory that the massive April 2 pump that kicked off the glorious 2019 rally was orchestrated by one major player who took advantage of low liquidity on numerous exchanges to pump the price. 

Back in June 2019, a savvy Coinbase user sold $213 mln worth of BTC and bought back the whole thing shortly after to earn a whopping $10 mln in practically no time.  

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A $328 mln Bitcoin transaction  

In the meantime, Whale Alert, the service that tracks large transactions across multiple blockchains, has spotted a mammoth-sized Bitcoin transaction that is worth more than $328 mln. 

However, it appears to be an internal transfer, which means that it will not affect BTC's price action. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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