Traders can’t get enough of Bitcoin and Tesla stock. According to TradingView, the duo emerged as the most favourite stocks among the users of TradingView platform for July. Bitcoin price has almost doubled after new lows back in March due to Coronavirus lockdowns. On the other hand, Tesla has been making new highs and is on another level this year.
The TradingView report also mentions that traders are also actively discussing airline stocks. Coronavirus lockdowns banned all travel/tourism and it caused a massive crash in airline stocks. So, markets may witness some buying in this industry.
Bitcoin and Tesla are touching new highs
Bitcoin and Tesla are grabbing all the attention as most TradingView users were focused on trading in these two stocks only. TradingView is a highly popular charting platform used by millions of users worldwide. They share trading insights, technical signals, chart patterns, and trading-related information on the platform. So, TradingView reports do carry weight in the trading analytics realm.
The platform says that Bitcoin emerged as a hot topic of discussion among the users. Tesla went a step further and even beat Bitcoin in terms of popularity for June. These two grabbed the most attention as users shared a lot of technical charts and price pattern information of the two stocks.
Users want to make the most of volatile markets
Geographically, Bitcoin popularity arose primarily from the West Coast region, including California and Oregon. The meteoric performance of Bitcoin amidst the Coronavirus pandemic has soared its popularity among the traditional investors. The crypto king handled the worldwide market crisis pretty well with many terming it a safe-haven asset akin to gold.
BTC started the year around $7,100 level and crashed under %5,000 in the wake of March market meltdown. However, it quickly rose to touch $12,000 highs and performed exceedingly well compared to many traditional asset classes.
TradingView users ignored Apple stock despite its strong performance. Other tech-related stocks also didn’t shine much. It was Bitcoin and Tesla all the way for TradingView users.