Apple (AAPL) Holds the Edge By Outperforming Bitcoin (BTC) On Yearly Chart

By Bhushan Akolkar
Updated July 1, 2022

2021 has been a pretty good year for Wall Street as well as the crypto market. On Monday, January 3, the market soared to an all-time high of the first trading day of the year with Apple Inc (NASDAQ: AAPL) joining the party.

The AAPL stock also surged to a new all-time high thereby becoming the first-ever company to hit a $3 trillion milestone. With this move, the world’s largest company managed to outperform the world’s largest cryptocurrency on a yearly chart.

While the gains of AAPL stock over the last year stand at a staggering 40%, the gains for Bitcoin stand at 38%. Needless to say that Apple investors have been enjoying these gains with much lesser volatility and greater peace of mind.

But one must not forget that Bitcoin has still managed to beat several other asset classes once again. Furthermore, Apple is one case in isolation as Bitcoin has managed to outperform several other tech giants over the last year.

What’s In Store for Bitcoin in 2022?

The Q4 of 2021 didn’t prove to be as bullish as many investors had expected the BTC price to touch $100K levels. Bitcoin remained volatile over the last quarter and traded sideways for the entire December of 2021 after hitting an all-time high of $69,000 in the previous month.

Some analysts also believe that Bitcoin could be extending this rally till the mid-half of 2022. While hopes remain high, the broader crypto market has yet to participate in the New Year party as witnessed on Wall Street.

On the other hand, Bitcoin’s on-chain metrics continue to show strength. The illiquid BTC supply has touched an all-time high, meaning, a lot of BTC is moving off exchanges and into cold storage.

Furthermore, the Bitcoin network has fully recovered from China’s Bitcoin mining ban. Over the last weekend, the BTC mining hashrate has touched a new all-time high suggesting increased miner participation.

Let’s know if you think that Bitcoin can still touch $100K levels this year or not.

Advertisement
Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.