Amazon is the largest e-commerce marketplace and cloud computing platform in the world as measured by revenue and market capitalization. Amazon went public on 15 May 1997, 22 years ago today. When Amazon first went public in 1997, its stock was priced at just $18 per share. But in the 20-plus years since its initial public offering (IPO), Amazon stock was not always the hot commodity that it is today. Today, Amazon stock is priced at $1871.15, having a Market Capitalization of $921.23 billion.
Bitcoin is a cryptocurrency and a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. On 3 January 2009, the Bitcoin network came into existence with Satoshi Nakamoto mining the genesis block of Bitcoin. Within ten years, Bitcoin is trading within the price range of $7600- $8300 in the cryptomarket.
Per the above tweet, the crypto age is supposed to create enormous wealth in comparison to the traditional investment in stocks. Bitcoin alone adds around $145 billion in the Market Capitalization of cryptomarket and generates 60% dominance individually. Bitcoin in May 2013 was traded at the lowest price $135.30. Currently, the price is 60 times more than the trading price then. This is an immense growth within a matter of 10 years as compared to what Amazon stock price has and the return it generates.
Technical Analysis of the current Scenario of Bitcoin:
With a close view of present Scenario at a price (USD) 7900.27, the two indicators, i.e. MACD that helps in getting the trend-following momentum indicator which shows the relationship between two moving averages and RSI measures the speed and change of price movements.
- As witnessed in the graph above, it was twice when MACD had a significant pullback, below the signal line, which indicates the bearish signal as the price is currently fluctuating between $7600-$8300.
- Bitcoin was overbought or oversold as per the price swing in the last 24 hours.
- Whereas, the RSI level is close to 50, which demonstrates that it is not inclined to any extremity and is a fair measure.
In this age of cryptocurrency, digital assets, and blockchain, there are probably no investment avenues that give such exceptional returns, but the extent of volatility increases the inherent risk. Though, the financial market works on the thumb rule of “Higher the risk, higher the returns.”
Disclosure: Opportunistic fraudsters are taking advantage of this market, offering investments in cryptocurrencies and doing everything they can to defraud unsuspecting victims, Anyone who invests in cryptocurrencies should thoroughly research the company they are choosing to invest with to avoid scams.
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