Tesla turns tables on Bitcoin as 2023 gains outpace BTC price comeback


It’s a game of cat and mouse for BTC price and TSLA stock this month, but so far, Tesla is staging a stronger rebound. 


Bitcoin may be up 16% in 2023, but one stock it outperformed last year is now getting its revenge.


Data from Cointelegraph Markets Pro and TradingView shows that for all its newfound strength, Bitcoin is still playing catch-up.


Tesla up almost 25% from January low

Tesla was in the headlines throughout 2022 as its rapid rise to prominence — and stock price gains — steadily unwound.

Despite CEO Elon Musk making history with his personal wealth losses, Tesla (TSLA) has so far recovered by almost 25% since Jan. 6.


TSLA/USD 1-hour candle chart (NASDAQ). Source: TradingView

Amid an atmosphere of declining inflation in the United States and a surge in the price of safe-haven gold, the stage is arguably set for a broader risk asset rebound.


Cast your vote now!

After seeing grim year-on-year losses of nearly 65%, BTC is also keenly eyeing the potential for growth, having begun 2023 with a dip below $16,500.

Local highs of $19,112 on Bitstamp marked new year-to-date returns of 16.8% — a refreshing change for hodlers — but behind TSLA in terms of lows to highs as of Jan.12.


BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Nonetheless, analysis continues to focus on the two assets’ broader correlation.

“Crypto has been largely correlated to tech for the last few years but the BTC chart overlayed on TSLA is actually crazy,” popular Twitter account Bluntz commented on a combined chart earlier in the month.


Tesla still a “buy " for ARK

Not everyone is concerned about which horse wins the race in the short term.

Related: 13% of BTC supply returns to profit as Bitcoin sees ‘massive’ accumulation

This month, ARK Invest, the asset management giant famous for its bullish stance on Bitcoin, added TSLA to its holdings.

On Jan. 11, ARK purchased over 22,000 shares in its most recent addition to its portfolio. 


As Cointelegraph reported, ARK turned heads in recent months thanks to its increasing exposure to the Grayscale Bitcoin Trust (GBTC), the embattled Bitcoin institutional investment vehicle that trades at a heavy discount to the Bitcoin spot price



Source : [Tesla turns tables on Bitcoin as 2023 gains outpace BTC price comeback](cointelegraph.com/news/tesla-turns-tables-on-bitcoin-as-2023-gains-outpace-btc-price-comeback) by Cointelegraph By William Suberg - 200+Cointelegraph by Cointelegraph By William Suberg / January 13, 2023

rayn.finance logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.