The Future Coin

Bitcoin

$45,282.86

BTC -1.33%

Ethereum

$1,418.10

ETH -3.18%

XRP

$0.42

XRP -3.25%

Litecoin

$166.08

LTC -2.36%

EOS

$3.51

EOS -4.70%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Markets

Bitcoin vs. Nasdaq: A race to $11k

by The Future Coin
June 13, 2020
in Markets
0
Bitcoin vs. Nasdaq: A race to $11k
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

  • The crypto market saw a strong recovery soon after its mid-March crash, but the stock market is growing also.
  • So far, the recovery seems to be progressing well, but many think that Bitcoin will outperform.
  • Meanwhile, there is also a large percentage of those who expect that the worst has yet to come.

By now, everyone would agree that the year 2020 has been a financial trainwreck. Due to the coronavirus pandemic fears, the stock market crashed dramatically, followed by the crypto market itself. However, the crypto market started recovering fairly soon, and now, even the stocks are seeing an impressive comeback.

Despite this, cryptos are still leading on the road to recovery, particularly Bitcoin. The coin has made huge progress, even though it saw its third block rewards halving only a month ago. Now, investors are expecting Bitcoin to hit $11k mark before Nasdaq reaches 11,000 points, even though BTC still struggles with its psychological barrier at $10,000.

A recovery progresses, but who will take the lead?

Even though the market crash has been the harshest since the Great Depression, the recovery is progressing strongly, and the leading crypto is currently up by over 150% from its YTD low at $3.700. Meanwhile, Nasdaq’s own index is only 40% above the lows experienced in March of this year.

While this is still an impressive performance, investors seem to expect Bitcoin to continue outperforming the stock market.

Which one goes to 11,000 first?

— Maple Leaf Capital (@MapleLeafCap) June 11, 2020

So far, the demand for digital assets and services has seen a considerable boost, especially since the pandemic began. Technology stocks, in particular, saw an impressive performance.

Who will win: Bitcoin, Nasdaq, or neither?

Due to social distancing, companies like video communications firm, Zoom, experienced a huge spike in usage. Zoom itself surged by 220% in the last few months. Meanwhile, tech giants like Microsoft, Amazon, and Apple saw an approximately 10% boost since the beginning of the year.

This also resulted in a surge that the Nasdaq index saw, which exceeded 10,000 points. Even so, a recent poll indicates that 43% of people believe that Bitcoin will be the first one to hit $11k, while only 16% think that Nasdaq will be the one to reach 11k points first.

Meanwhile, 41% seems to believe that neither will hit the mark. This sentiment also manages to hold, as the economic trends are nowhere near bullish, and more and more analysts on Wall Street seem to be turning bearish.

The consequences of the virus outbreak and the Fed’s actions have yet to be felt, and the following months — and likely even years — will undoubtedly be quite challenging for the world.



Source link

EDITOR’S CHOICE

Global Crypto Investment Fund FD7 Ventures to Sell $750M USD Worth of Bitcoin to Increase Cardano and Polkadot Holdings

Coinbase Files for Direct Public Listing With SEC – Cryptocurrency Regulation

Tanla to take Blockchain platform Trubloq abroad

From mail-in ballots to business as usual, Vermont municipalities prepare for Town Meeting

CI files prospectus for Ethereum ETF – Advisor.ca

Crypto bull run on track amid surge in US inflation expectations

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 45,468.00
ethereum
Ethereum (ETH) $ 1,423.99
cardano
Cardano (ADA) $ 1.33
tether
Tether (USDT) $ 1.01
polkadot
Polkadot (DOT) $ 34.04
binance-coin
Binance Coin (BNB) $ 209.64
xrp
XRP (XRP) $ 0.420309
litecoin
Litecoin (LTC) $ 166.35
chainlink
Chainlink (LINK) $ 24.86
stellar
Stellar (XLM) $ 0.410785
usd-coin
USD Coin (USDC) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 462.07
uniswap
Uniswap (UNI) $ 22.65
dogecoin
Dogecoin (DOGE) $ 0.049346
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 45,433.00
nem
NEM (XEM) $ 0.611769
aave
Aave (AAVE) $ 363.01
okb
OKB (OKB) $ 16.02
cosmos
Cosmos (ATOM) $ 18.07
monero
Monero (XMR) $ 219.52
solana
Solana (SOL) $ 13.76
eos
EOS (EOS) $ 3.53
bitcoin-sv
Bitcoin SV (BSV) $ 177.32
crypto-com-chain
Crypto.com Coin (CRO) $ 0.136129
tron
TRON (TRX) $ 0.045909
iota
IOTA (MIOTA) $ 1.14
theta-token
Theta Network (THETA) $ 3.15
havven
Synthetix Network Token (SNX) $ 18.37
tezos
Tezos (XTZ) $ 3.47
huobi-token
Huobi Token (HT) $ 13.79
vechain
VeChain (VET) $ 0.039477
neo
NEO (NEO) $ 34.91
cdai
cDAI (CDAI) $ 0.021229
binance-usd
Binance USD (BUSD) $ 1.00
dai
Dai (DAI) $ 1.01
ftx-token
FTX Token (FTT) $ 25.94
elrond-erd-2
Elrond (EGLD) $ 127.50
terra-luna
Terra (LUNA) $ 5.39
filecoin
Filecoin (FIL) $ 36.18
dash
Dash (DASH) $ 197.65
the-graph
The Graph (GRT) $ 1.59
kusama
Kusama (KSM) $ 215.52
sushi
Sushi (SUSHI) $ 15.13
compound-usd-coin
cUSDC (CUSDC) $ 0.021727
leo-token
LEO Token (LEO) $ 1.91
avalanche-2
Avalanche (AVAX) $ 24.03
maker
Maker (MKR) $ 2,025.79
celsius-degree-token
Celsius Network (CEL) $ 4.67
decred
Decred (DCR) $ 134.33
compound-governance-token
Compound (COMP) $ 394.17