How much $1000 invested in Bitcoin, Dogecoin and Apple at mid-June lows is worth now – Dogecoin (DOGE/USD)
The sun seems to have come out in the middle of the crypto winter, as several digital currencies are on the rise. Many have started to move higher and are trading well from mid-June.
What changed now: The sale of risky assets has made valuations very attractive, and this has attracted bargain hunters. The buying may also have been supported by the expectation that one of the risk factors playing on traders’ minds could soon be reduced.
Most economists believe the Federal Reserve may soon drop its aggressive monetary policy stance, stopping rate hikes in 2023. After three 75-basis-point hikes, another one of a similar size could come next week. The December meeting is likely to produce a smaller hike, setting the stage for a break early next year.
Benign interest rates will mean that consumers will be left with more money to spend and invest, and companies will have access to finance on easier credit terms. This will in turn kick-start the economy.
In the short term, markets have been supported by increased risk appetite following encouraging earnings reports. Most companies, except big tech and those reliant on advertising dollars, have reported better-than-expected results for the September quarter.
Dogecoin DOGE/USD sees particular strength, which Elon Musk’s Twitter, Inc. TWTR purchases are perceived as positive for the meme crypt. Musk has been very vocal in his support for the doge-themed currency, favoring it over himself Bitcoin BTC/USD.
See also: Dogecoin price doubles in a week, analyst says DOGE could reach 50 cents by end of 2022
Doge vs. Bitcoin vs. Apple: Among high-profile stocks, Apple Inc. AAPL has been an outstanding performer, as businesses are relatively immune to a recession.
As the crypto rally gathers pace, here’s a look at how returns from investments in Bitcoin, Doge and Apple compare, assuming the money was plowed in by mid-June.
A $1,000 invested in Bitcoin at the peak crypto’s mid-June low of $17,708.62 (June 18) would have netted an investor 0.06 bitcoin. This 0.06 bitcoin would be worth $1,250.30 at Saturday’s intraday high of $20,988.39, a 25.9% gain over roughly four months.
A $1,000 invested in Doge at the mid-June low of $0.050267 (June 14) would have bought 19,893.8 Doge. If the same were sold at Saturday’s intraday high of $0.149076, the return would be around $2,965.69 or 297%.
A $1,000 invested in Apple at the stock’s mid-June low of $129.04 (June 16) would have yielded 7.75 shares. If these shares were sold at Friday’s intraday high of $147.28, the sale would have yielded a return of $1,141.42 or 14.14%.
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