The US dollar index (DXY) has fallen below 100 and gold has reached new heights of all time, because growing prices have increased global economic uncertainty. Consequently, the prices of assets have taken a hit – especially in the technological sector and cryptocurrencies.
Since he reached his summit of $ 109,000 in January, Bitcoin (BTC) has decreased by around 26%. Compared to “magnificent seven” technical stocks, the Bitcoin draw is in the middle, signaling its growing maturity as an actor.
Tesla (TSLA) is currently the worst performer, down almost 50% of her peak. NVIDIA (NVDA) follows with a drop of 31%. Apple (AAPPL), Bitcoin, Meta (META), Google (Goog) and Amazon (AMZN) have all decreased by around 26%, while Microsoft (MSFT) stands out with a relatively modest print of 18%.
To highlight Bitcoin resilience in this current 3 -month correction, compared it to a similar period during its slowdown from 2021 – from November 2021 to February 2022 – when it dropped from $ 69,000 to $ 38,000. At that time, Bitcoin was the most efficient among the main names of technology, although Tesla also suffered significantly.
This comparison underlines how bitcoin has become more resilient over time as its market cycles are growing and the asset continues to mature.
