Bitcoin and AI tech stocks have experienced a clear divergence recently in their respective trajectories and performances. As the first cryptocurrency, Bitcoin has been the subject of a lot of investment and interest, while AI tech stocks have experienced a steady growth due to their revolutionary potential, becoming an important sector in the technology industry.
The Bloomberg data shows that Bitcoin has been trading in a narrow range since March. On the other hand, AI stocks surged with the popularity of ChatGPT, and the price of Bitcoin has been quite volatile due to multiple factors, such as market demand, legislative changes, institutional adoption, and investor sentiment.
Fiona Cincotta, senior market analyst at City Index, pointed out that “there has been that decoupling, with AI charging higher while Bitcoin has been trading lackluster. Bitcoin is in that period of consolidation”.
CoinMarketCap data reveals that Bitcoin has dropped by 15% YTD and 4.4% in the last 30 days, and is currently trading at around $26,808.
To sum up, while the gap between Bitcoin and AI tech stocks may change in time, it is recommended to do thorough research and seek advice before investing in either of them.
