Forget Crypto, Tesla Outperforms Bitcoin by Massive Parabolic Gains in 2020

Published February 4, 2020 | Updated July 24, 2020

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Image Source: Getty Images

Forget Crypto, Tesla Outperforms Bitcoin by Massive Parabolic Gains in 2020

In the last decade, the gains in crypto assets made a huge wave of hysteria and criticism around the world. Bitcoins’ decade gain was beyond anyone’s imagination with prices below $0.1. The beginning of 2020 has been bullish with a swift rise above $9000 as well. However, there is one stock that has been making all the waves. 

Tesla, led by famed entrepreneur and innovator, Elon Musk, has gained 85% since the beginning of the year. 

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TSLA/USD Daily Chart (TradingView)

The parabolic gains in Tesla has risen the stock to a 2.5X in value from $225 in October 2019. As recently reported on Coingape, Tesla rose to new ATH at $650 riding over short squeezes. The price of the stock continues to soar to new highs, currently at $780. 

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TSLA vs BTC 2020 Gain Comparison (TradingView)

On the other hand, the year-to-date gains in Bitcoin is 30.2%. Traders are still waiting for their long orders to yield $10k. However, bears continue to show their presence on shorter time frames forming a parallel range between $925x and $951x.

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BTC/USD 1-Day Chart on Bitstamp (TradingView)

While there have been attempts at a break-out, the price has failed to consolidate above the or below the range. Crypto and derivatives trader, XC, tweeted on the massive volatility yesterday, forming a huge shooting star on the daily chart. He tweeted, 

Daily closing as a nasty failed breakout with 92 previous high support taking a beating. Are we finally about to see a range breakout? $BTC

Do you think Bitcoin will reach $8000 or 10,000 first? Please share your views with us. 

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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Nivesh Rustgi 1181 Articles
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
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