Bitcoin Beats Apple’s Performance Since January 2017

Last year in January, the entire US stock market underwent one of the largest bull markets over the years with many of the tech stocks like Apple’s achieving high numbers. Over the same period, Bitcoin’s price increased up to $3,155 which is over 215% incensement and in today’s bitcoin news we take a closer look at both of these giants.

Over the past two years, the stock price of Apple increased by 44 percent and Bitcoin’s price increased by about 215 percent after the strong plunge by 85 percent.

When the price of BTC dropped immensely against the US dollar, many analysts said that bitcoin will inevitably drop to zero and will lose a huge chunk of its value.

Take a look at any market you will see that if the market has a similar magnitude such as the crypto market, it will reach a point of a long-lasting downtrend and a long-term consolidation period. Literally, every market goes through a bull and bear cycle.

The CTO of Coinbase Balaji Srinivasan:

 “The reason this thing [cryptocurrencies] really had legs was after 2011 when there was a bubble and it went up, and it came down, and it didn’t go to zero. It kind of stabilized and kept coming back up. Around that time was basically when I said ‘okay, this is going to stick around, it’s got legs, it’s not going to zero.’ That was kind of a build year. We have this kind of bubble-crash-build phases in crypto, and that is really when I start to get involved.”

Apple went through massive corrections in the past 11 years where almost every drop was characterized by a 30 percent decline in the share prices. On the contrary, Bitcoin only experienced five huge corrections with every drop reaching an 85 percent point. Bitcoin’s correction lasted about 60 weeks to recover and reach a new all-time high.