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The bitcoin exchange rate has declined significantly in the past year, but the position of Tesla shares is even worse.
After several days of almost complete absence of volatility, bitcoin showed activity after the traditional markets opened after the Christmas holidays on December 27. However, this activity did not bring anything good. According to the Cryptovizor cryptocurrency screener, which determines the market price of BTC/USD based on the results of trading on the largest spot exchanges, the asset price has dropped today to $16,559.
12-hour BTC/USDT chart. Source: Cryptovizor
Cryptocurrency analysts were filled with pessimism. Toni Ghinea tweeted:
My short-term forecasts are for $ETH, $MATIC, $ADA and $BTC. I draw your attention to the fact that sales will accelerate in the coming weeks. This bear market is far from over.
1-week charts of Bitcoin, Ethereum, Matic and Cardano. Tony Guinea's Forecast
There are three days left until the end of the year, and it is already obvious that the fall in the bitcoin exchange rate during the year will exceed 60%. However, this collapse seems less dramatic compared to Tesla shares, which, at the current price of $ 110, have fallen by almost 73% over the year.
1-day Tesla stock chart
Bloomberg senior analyst Mike McGlone is confident that bitcoin's best position is due to its limited supply, while the number of Tesla shares is growing. The superiority of cryptocurrencies is a manifestation of the law of economics, McGlone believes.
Among other things, the fall of TSLA was facilitated by the sale by Tesla CEO Elon Musk of a significant package of shares owned by him — this was a forced measure related to the billionaire's purchase of the social network Twitter.
