Bitcoin (BTC) and NVIDIA Corp (NASDAQ: NVDA) have led the cryptocurrency and stock markets in 2024 with astonishing performances. However, investors may wonder which has made the better investment year-to-date (YTD).
Interestingly, these two assets’ remarkable performances are not isolated. Cryptocurrencies, commodities, and stocks reached new highs in 2024, pointing toward a more optimistic economy.
On that note, Finbold previously reported what Gold, BTC, and the S&P 500 price action have in common.
BTC/USD daily chart year-to-date (2024). Source: TradingView (Finbold)
NVIDIA stocks’ YTD performance as an investment in 2024
On the other hand, NVDA benefited from the growing demand for GPUs amid an artificial intelligence (AI) narrative surge. This industrial movement fueled Nvidia’s performance by an impressive 83.93% YTD increase in price.
The technology company’s stock price went from $492.44 per share on January 2 to $903.71 at publication. In this context, the stock changed hands for as low as $473.20 and as high as $974 during the year.
Yet, it is worth noting that the strength technical indicator, at 70.57 RSI, suggests a strong, healthy momentum.
NVDA daily chart on Nasdaq and its YTD performance (2024). Source: TradingView (Finbold)
Conclusion on the, so far, better investment in 2024
In conclusion, Nvidia has, so far, proved itself a better investment than Bitcoin in 2024. Investors who purchased NVDA experienced less volatility between the highs and lows while seeing more gains year-to-date.
Moreover, the RSI suggests that Nvidia currently has a healthier status than Bitcoin for further continuation.
All things considered, investing in either NVDA or BTC carries risks, and both markets are unpredictable. Past performance does not guarantee future outcomes, and investors must understand the fundamentals of the assets before deploying meaningful capital.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
