Since January, the cost of the first cryptocurrency has increased significantly against the US dollar. This allowed the digital coin to outrun most of the traditional stocks. Since the beginning of the year, Bitcoin has risen in price by 35% against the US dollar. This figure is much higher than that of popular stocks in the stock market over the same period. The comparison was presented by investor and writer Charlie Bilello in his twitter account. https://twitter.com/charliebilello/status/1117050594844467201
The main digital coin was able to surpass the assets of companies included in the composition of the indices Nasdaq 100 and S&P 500, as well as gold treasury bonds. The fact that the first cryptocurrency is ahead of the stock market, recently wrote the portal CCN.com.
Analysts relied on the Dow Jones Industrial Average, which tracks the 30 largest US companies. It turned out that Bitcoin showed better growth results than most stocks.
The graph presented in the material shows that Bitcoin has added 44% since the beginning of the year. At the same time, the Dow Jones index shows a rate of 12%. According to analysts, the sharp rise in Bitcoin makes the stock market vulnerable and weak.
DJIA - this is one of the oldest market indexes. Initially, it was calculated as the arithmetic average of stock prices of covered companies. Now, a scalable average is used for the calculation: the sum of prices is divided by a divisor, which changes whenever the shares in the index are crushed or combined.