With all of the industry’s eyes are focused on Coinbase’s Nasdaq listing, it’s time to have some fun and hypothesize. With the marketplace as it is, it’s safe to presume that the initial rates will be high, but, can that cost withstand a bearish market? And, on another topic, will the Coinbase stock become a competitor for Bitcoin and cryptocurrencies in general? This is literally the first crypto business to go public, so a lot of questions remain in the air.
In The Last Five Years, Bitcoin and Ethereum Outperformed Every Nasdaq Stock
However, we’re here to have a good time. And this Jon Erlichman tweet opened eviction for that:
Value of $1,000 invested 5 years ago:
— Jon Erlichman (@JonErlichman) April 13, 2021
These numbers are not surprising, thinking about that Bitcoin was the best carrying out possession of the last years by a ludicrous percentage. In retrospection, those numbers will make your head spin. Let’s estimate Tony Spilotro for NewsBTC:
“Data reveals that the cryptocurrency has actually outshined every other asset over the last ten years, with a shocking 6 million percent increase. This relates to over 200% annualized returns, with the next best entertainer being the Nasdaq 100 at simply 20% annualized returns.“
Erlichman’s chart’s primary message is that, in the last 5 years, Ethereum surpassed Bitcoin by almost 2X. This makes good sense if you consider the variety of crypto jobs of all kinds that are continuously being built over Ethereum. In fact, the entire DeFi space was produced because duration, and most of it operates on gas and ERC-20 tokens.
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On the other hand, Ethereum is a more recent task. Bitcoin has been continuously growing for a long time and, although it hasn’t stopped, seems to be in a consolidation state. Also, take into consideration Raoul Pal’s take. He’s a former head of Goldman Sachs’ hedge fund sales who studied the charts and concluded:
“The likelihoods in the charts recommend that Bitcoin is likely set to be the best carrying out major property in the world over the next 24 months and by a huge margin.“
Let’s return to Nasdaq and have a look at the rest of Erlichman’s chart. The very first thing that pops up is AMD and Nvidia. Let’s not kid ourselves, one of the main factors those impressive graphic processor companies are up there is cryptocurrency mining. So, the leading 10 practically belongs to the crypto market.
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The 2nd thing that pops up is personal e-commerce. Both Shopify and Etsy have carried out enormously well over the last couple of years. Individuals wish to sell things, which’s a gorgeous thing. What will take place when this phenomenon hits the crypto world, though? That’s can be found in the next few years. It’s coming in a huge method.
The remainder of the chart consists of the typical suspects, we don’t need to enter into those.
The only thing left is to analyze the chart itself. For that, we sought advice from Eduardo Gavotti. The expert trader and host of the “Trading En Serio” podcast informed Bitcoinist:
“In the rearview mirror, everything looks excellent. Those tweets tend to be deceptive because a lot of those who invested $1000 five years back, got frightened and took their money out when their investing was at $1500 or at $700.“
What would you have done? How strong are your hands?