Bitcoin: Why ‘at your fingertips’ Apple could be next before ‘to the moon’

From its humble beginnings in 2008 to its price peak in 2021, Bitcoin (BTC) has been a journey. Executives at tech giants even like: googlefacebookand Amazon have quit jobs to do crypto full time.

But what is the hype about?

Let’s compare the world’s largest cryptocurrency, Bitcoin (BTC), to one of the world’s largest technology companies, Apple (APPL).

Bitcoin is in the news today after its average daily trading volume surpassed Apple’s by nearly 60%. That’s a huge achievement for the assets of a ‘niche’ market. In fact, the average daily trading volume (APPL) during the observed one-month period leading up to March 9, 2022 was $15.6 billion.

In comparison, the average daily trading volume of BTC over the 30-day period was $24.73 billion. Simply put, Bitcoin’s average daily trading volume was exactly 58.42% higher than Apple’s.

Source: infogram.com

After the executive order was announced by President Joe Biden, Bitcoin’s price noted a recovery as the market seemed optimistic. In fact, BTC climbed to $42,577 on the charts. At the time of writing, however, it was back to square one. It was valued at $39,237, down 6.66%.

Biden announced the “First Whole-of-Government Strategy” for digital assets. More specifically, he ordered several federal agencies to work together in formulating a policy. The president’s executive order stressed that any policies designed for digital assets must protect not only investors, but consumers, businesses and the wider financial system.

This announcement came on the back of the number of new entities (new people buying BTC) last week. By doing so, BTC broke through a pretty rough downtrend, one that started after its previous ATH.

According to the attached glass node chart, numbers for the same crossed 112.5k new entities.

Source: Glassnode

So what now?

Bitcoin still has a long way to go if it is to surpass Apple in terms of market cap. The last was standing at the $2.7T mark while BTC was still shy of the $740 billion at the time of writing.

However, it is worth pointing out that on March 10, the price of Bitcoin shot $3,000 off its value. In fact, the size of the network-wide liquidations was $55.81 million in just one hour.

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