Crypto Vs AI: If You Invested $1000 In Bitcoin, Shiba Inu And Super Micro At The End Of Last Year, Which Would've Given Better Returns?
Portfolio Pulse from Shanthi Rexaline
In 2023, Bitcoin and Shiba Inu saw significant returns, with Bitcoin gaining over 155% and SHIB 260%. Super Micro Computer (SMCI) outperformed both, with a 278% return, attributed to its S&P 500 inclusion. The crypto market's recovery was driven by regulatory approvals and anticipation of a spot Bitcoin ETF, while AI stocks like SMCI benefited from the broader risk-on sentiment.
March 05, 2024 | 8:09 am
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POSITIVE IMPACT
Bitcoin experienced a significant recovery in 2023, with a gain exceeding 155%, attributed to regulatory approvals and anticipation of a spot Bitcoin ETF.
Bitcoin's recovery and significant gains in 2023 can be attributed to the crypto market's overall recovery, driven by regulatory approvals and anticipation of a spot Bitcoin ETF. This positive sentiment is likely to continue supporting Bitcoin's price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Shiba Inu underperformed until mid-February 2023 but eventually broke free from its trading slump, achieving a 260% return.
Shiba Inu's performance in 2023, despite a slow start, indicates a strong recovery and investor interest in meme coins. The 260% return suggests a positive short-term outlook for SHIB, driven by renewed market enthusiasm.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Super Micro Computer (SMCI) outperformed Bitcoin and Shiba Inu with a 278% return, driven by its inclusion in the S&P 500.
SMCI's exceptional performance and 278% return can be directly linked to its inclusion in the S&P 500, a significant milestone that likely attracted more investors and boosted its stock price. This trend is expected to positively impact SMCI's short-term price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 95