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Despite the strong volatility seen in the Bitcoin price throughout July, the asset class has outperformed some of the big tech giants like Google, Microsoft, Apple, Meta, and Amazon, on a 12-month risk-adjusted basis. Only Nvidia (NASDAQ: NVDA) has managed to pull off a better performance than BTC amid the solid boom for artificial intelligence over the last year. 
<h2 id="nvidia-beats-bitcoin">Nvidia Beats Bitcoin</h2> 
Despite the strong tech market rally over the last year, most of the big tech giants have fallen way behind Bitcoin percentage returns on a 12-month chart. As per the below chart, only Nvidia has managed to beat Bitcoin with 140% gains on the yearly chart while BTC stands at 120% gains as of the current Bitcoin price of $61,500. 
As shown in the below image, most of the big tech giants have given less than 40% returns in the same time period while the gold returns are somewhere around 20%, per the data presented by ecoinometrics. 
<figure id="attachment_210881" aria-describedby="caption-attachment-210881" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-210881" src="https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-scaled.jpeg" alt="" width="2560" height="2560" srcset="https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-scaled.jpeg 2560w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-300x300.jpeg 300w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-1224x1224.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-150x150.jpeg 150w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-768x768.jpeg 768w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-1536x1536.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-2048x2048.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-vs-Nvidia-96x96.jpeg 96w" sizes="(max-width: 2560px) 100vw, 2560px">
 <figcaption id="caption-attachment-210881" class="wp-caption-text">
 Courtesy: Ecoinometrics
 </figcaption>
</figure> 
However, it’s the macro conditions currently driving the fluctuations in the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a>. Over the last week, both Bitcoin and Nvidia have corrected 6-7% in the recent market rout. 
On the other hand, the global economy is in a tight position with the US unemployment data coming higher than expected flashing major signals of a <a href="https://coingape.com/peter-schiff-warns-us-recession-predicts-inflation-spike-ahead/" target="_blank" rel="noopener">US recession</a> going ahead. Ecoinometrics noted: 
<blockquote>
 “If that’s where we are heading Bitcoin will have a bad time like every other risk asset. It is only on the other side, when monetary liquidity makes a comeback that it will outperform again. So it’s important to watch closely where the US economy is going in the short term”.
</blockquote> 
On the other hand, with the Bank of Japan increasing interest rates and Yen strengthening, tech firms on Wall Street could face similar volatility going ahead. 
Also Read: <a href="https://coingape.com/ethereum-going-to-2k-says-peter-schiff-altcoins-bleed-amid-us-recession-fears/" target="_blank" rel="noopener">Ethereum Going to $2K Says Peter Schiff, Altcoins Bleed Amid US Recession Fears</a> 
<h2 id="btc-at-crucial-support">BTC At Crucial Support</h2> 
<a href="https://coingape.com/bitcoin-buy-the-dip-interest-wanes-amid-50k-calls-btc-etf-outflows-surge/" target="_blank" rel="noopener">Bitcoin</a> is facing strong selling pressure and currently trading at a crucial support with a scope for an additional downside, reported Rekt Capital. Currently, BTC has completed 110 days past the halving event. Historically, BTC has always given a breakout 150-160 days post the Halving event. Thus, we have a month of consolidation ahead of us before we see the actual surge going ahead. 
<blockquote class="twitter-tweet"> 
 <a rel="nofollow" href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> 
 Bitcoin has returned to the Range Low area, with scope still for additional downside deviation in the near future 
 And currently at ~110 days after the Halving, Bitcoin is slowly getting closer to its historical breakout point of 150-160 days after the Halving<a rel="nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>… <a rel="nofollow" href="https://t.co/k2oqjOD85D">https://t.co/k2oqjOD85D</a> <a rel="nofollow" href="https://t.co/Ox1SXLXptu">pic.twitter.com/Ox1SXLXptu</a> 
 — Rekt Capital (@rektcapital) <a rel="nofollow" href="https://twitter.com/rektcapital/status/1819692343441621076?ref_src=twsrc%5Etfw">August 3, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Also Read: <a href="https://coingape.com/senator-cynthia-lummis-bitcoin-bill-bags-2200-co-sponsor-requests/" target="_blank" rel="noopener">Senator Cynthia Lummis Bitcoin Bill Bags 2200 Co-Sponsor Requests</a> 
The post <a href="https://coingape.com/nvidia-beats-bitcoin-risk-adjusted-returns/">Nvidia Beats Bitcoin In Risk-Adjusted Returns, Trend To Continue?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Nvidia Beats Bitcoin In Risk-Adjusted Returns, Trend To Continue?

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