Traders and analysts are screaming about the stock market’s “ historic” first quarter. The Dow Jones Industrial Average (DJIA) – which tracks 30 of the largest American companies – has staged an epic rally since the start of the year, chalking up 12 percent.
But forget stocks. Bitcoin is outperforming the broader stock market by a huge margin. In fact, bitcoin is outperforming every stock on the Dow Jones Industrial Average.
BITCOIN GAINS LEAVE DOW IN THE DUST
As you can see in the chart above, bitcoin has gained 44 percent since the start of the year. In contrast, the Dow has etched out 12 percent.
It’s still an impressive rise for stocks. Just three months into the year and the Dow has already surpassed the annual average stock market return of 10 percent.
Bitcoin’s rise in the same time period, however, makes the stock market rally look weak. On Wednesday, bitcoin carved out a new 2019 high, coming within touching distance of $5,500 on the Bitstamp exchange. It marks the peak of 44 percent bull run since the start of the year.
BITCOIN BEATS APPLE, IBM, AND MICROSOFT
To put bitcoin’s rally into perspective, let’s dive into the Dow itself. The DJIA is compromised of 30 giant US companies including Apple, McDonald’s, Goldman Sachs, and Disney.
BITCOIN RALLY TO CONTINUE?
Analysts are divided over whether bitcoin’s 44 percent surge indicates a long-term bull trend.
Bullish analysts point to record volumes on bitcoin futures markets and the imminent break of bitcoin’s 200-day simple moving average (SMA).
But not everyone is convinced. One Bloomberg analyst claims bitcoin traders are “grasping at straws” and warned of a possible 65 percent correction.
Topic: Bitcoin Beats the Dow, Outperforming Every Single Stock, in 2019 (Read 140 times)