(MUST SEE) Apple and Bitcoin in Comparative Perspective
Those of you who traded through bitcoin's parabolic advance (like me) are about to experience flashbacks. This is because the price action in Apple's stock chart looks very similar to the price action we saw in bitcoin throughout 2017. Here, take a look at Apple's stock and bitcoin in comparative perspective:
Obviously the timing is quite different. Apple has been forming this gigantic advance over the period of a decade, while bitcoin did it within a year. But I don't think I've seen this comparison anywhere else, and I suspect it's because of the duration of Apple's price advance which might be masking the problem that is now apparent on the chart.
If the comparison is valid, then there's still room for price to grow. Have you been to an Apple store recently? I walked in today to fetch some of those Airpods Pro earbuds for my partner, which are like $390 CAD after tax. They didn't have any; all sold out due to an apparent high demand. As I was being informed of this by the kind workers at the store, they were raving on about Apple stock! I'm by no means a regular, but I've had enough conversations in that store to gather a decent sample size. This is exactly the type of thing I remember hearing from people in and around the community when bitcoin was making its raging advance in 2017.
Anyway, I think price will continue to make its parabolic advance until mid 2020, at which point it will probably top out around $500 per share. After that, well, some kind of bear market. Hopefully we're not looking at Nikkei 2.0 for the Nasdaq.
Obviously the timing is quite different. Apple has been forming this gigantic advance over the period of a decade, while bitcoin did it within a year. But I don't think I've seen this comparison anywhere else, and I suspect it's because of the duration of Apple's price advance which might be masking the problem that is now apparent on the chart.
If the comparison is valid, then there's still room for price to grow. Have you been to an Apple store recently? I walked in today to fetch some of those Airpods Pro earbuds for my partner, which are like $390 CAD after tax. They didn't have any; all sold out due to an apparent high demand. As I was being informed of this by the kind workers at the store, they were raving on about Apple stock! I'm by no means a regular, but I've had enough conversations in that store to gather a decent sample size. This is exactly the type of thing I remember hearing from people in and around the community when bitcoin was making its raging advance in 2017.
Anyway, I think price will continue to make its parabolic advance until mid 2020, at which point it will probably top out around $500 per share. After that, well, some kind of bear market. Hopefully we're not looking at Nikkei 2.0 for the Nasdaq.
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