Bitcoin Outperforms Tesla Stock in 2022

After the December 28 Wall Street open, Bitcoin (BTC) circled $16,750 after stocks dragged markets lower.

BTC/USD recovered from a low of $16,559 on Bitstamp, according to data from Cointelegraph Markets Pro and TradingView.

After days of barely any up or down movement, Bitcoin finally witnessed some action as traditional markets reopened after the Christmas holiday. Volatility was on the downside for bulls, with BTC/USD reaching its lowest level since December 20.

On stock markets, US indexes rose after a dismal first day, but this failed to impress BTC commentators, many of whom stuck to pessimistic short-term price expectations.

The accompanying charts revealed targets for Bitcoin and various cryptocurrencies, including Ether (ETH), which may fall as low as $600.

Only MicroStrategy and its CEO, Michael Saylor, were on record expanding BTC exposure amid a lack of buyer interest.

The corporation, which already has the largest Bitcoin treasury among public companies, acknowledged in a filing that it added another 2,500 BTC to its reserves.