Despite the strong volatility seen in the Bitcoin price throughout July, the asset class has outperformed some of the big tech giants like Google, Microsoft, Apple, Meta, and Amazon, on a 12-month risk-adjusted basis. Only Nvidia (NASDAQ: NVDA) has managed to pull off a better performance than BTC amid the solid boom for artificial intelligence over the last year.,Despite the strong tech market rally over the last year, most of the big tech giants have fallen way behind Bitcoin percentage returns on a 12-month chart. As per the below chart, only Nvidia has managed to beat Bitcoin with 140% gains on the yearly chart while BTC stands at 120% gains as of the current Bitcoin price of $61,500.,As shown in the below image, most of the big tech giants have given less than 40% returns in the same time period while the gold returns are somewhere around 20%, per the data presented by ecoinometrics.,However, it’s the macro conditions currently driving the fluctuations in the Bitcoin price. Over the last week, both Bitcoin and Nvidia have corrected 6-7% in the recent market rout.,On the other hand, the global economy is in a tight position with the US unemployment data coming higher than expected flashing major signals of a US recession going ahead. Ecoinometrics noted:,On the other hand, with the Bank of Japan increasing interest rates and Yen strengthening, tech firms on Wall Street could face similar volatility going ahead.,Also Read: Ethereum Going to $2K Says Peter Schiff, Altcoins Bleed Amid US Recession Fears,Bitcoin is facing strong selling pressure and currently trading at a crucial support with a scope for an additional downside, reported Rekt Capital. Currently, BTC has completed 110 days past the halving event. Historically, BTC has always given a breakout 150-160 days post the Halving event. Thus, we have a month of consolidation ahead of us before we see the actual surge going ahead.,,Also Read: Senator Cynthia Lummis Bitcoin Bill Bags 2200 Co-Sponsor Requests,
https://coinniu.com/nvidia-beats-bitcoin-in-risk-adjusted-returns-trend-to-continue/
