What do the quotations of Juventus and Bitcoin have in common? Apparently little, apart from the fact that they both reached their 2020 low on March 12th-13th.
Before delving into details, some aspects need to be clarified: the content of this article is not investment advice but simply a comparison, that does not attempt to be exhaustive, between the queen of Italian football and the queen of cryptocurrencies.
Juventus vs Bitcoin quotations
With the help of the charts extrapolated from TradingView, and looking only at 2020, it is clear that the two assets have followed a totally different trend.
Bitcoin saw its value increase in the first part of the year, reaching $10,500 in mid-February. Then came the collapse of the markets that sunk the price which fell below $4,000 between March 12th and 13th. Since then a bullish trend began, reinforced by the pre-halving enthusiasm.
During the days just before the halving of the block reward for miners, Bitcoin hit $10,000 again and then fell the day before the halving, to then recover in the following days. It is currently trading just under $9,000, a gain of about 24% since January 1st, 2020.
The 2020 of Juventus was a bit different, affected by the Coronavirus which, by interrupting the championships, seems to be affecting not only the outcome on the football field but also that in the financial sector.
The month of January had already closed with a loss of almost 10% of the stock, from 1.25 euros to 1.13 euros. After recovering the loss during February, came the storm that swept through the financial markets and brought the Juventus stock down to about 60 cents.
In mid-April, the stock was again above the value of one euro and then fluctuated. It is currently at €0.93, with a loss of around 26% since the start of 2020.
Both Bitcoin and Juventus were affected by the Coronavirus pandemic and the collapse of their respective markets. Then Bitcoin had the third historic halving on its side, while Juventus remained in the limbo of the interrupted championship.
As can be seen on TradingView, the uncertainty over the recovery of Serie A matches weighs heavily. When the championship came to a halt on March 9th, Juventus was leading the standings and celebrating their victory over Inter, which together with Lazio is the other contender for the Italian title”.
Now the stock market for the sports teams seems to be betting on a resumption of the championships, to the extent that yesterday the titles of Roma, Lazio and Juventus saw a sharp rise with Roma leading this trend with a leap of around 11%.
When the FIGC (Italian Football Federation) and the Italian government decide to return to the field, who knows whether investors will decide to bet more heavily on the stock of Juventus.