Bitcoin (BTC) and traditional investments, particularly stocks, demonstrated similar chart patterns over the largest part of the past year. Yet, these days, the flagship decentralized finance (DeFi) asset seems a riskier investment compared to the Dow Jones Industrial Average (DJIA).
As it happens, Bitcoin’s risk is currently higher than that of the stock market index of 30 prominent companies listed on stock exchanges in the United States, compared to when they initially matched in the first quarter of 2021, Bloomberg’s senior commodity expert Mike McGlone explained on August 7.
Bitcoin vs. Dow Jones Industrial Average. Source: Mike McGlone
According to McGlone, this may have “bearish implications,” considering that it was “about when Bitcoin first breached $30,000 in January 2021 that it surpassed the Dow, and this level has acted as a pivot since.” Furthermore, he emphasized the difference in volatility at both periods of time:
“Currently resistance, our graphic shows
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