Report: Bitcoin remains the best-performing asset so far this year, and Q4 is expected to see a bullish market

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PANews2024/10/07 05:48

By:PANews

On October 7th, according to Cointelegraph, the New York Digital Investment Group (NYDIG) stated that despite experiencing a seasonally weak third quarter, Bitcoin remains the best-performing asset so far this year.

NYDIG research director Greg Cipolaro stated in a recent report that sales in the third quarter only increased by 2.5%, rebounded after a decline in the second quarter, but were hindered by large-scale sales during the same period. Bitcoin is still the best-performing asset class in 2024, but its lead has narrowed. Bitcoin has risen by 49.2% so far this year. For most of the past six months, trading has remained range-bound due to significant resistance such as Mt. Gox and Genesis creditor distributions (totaling nearly $13.50 billion) and the massive sell-off of BTC by the US and German governments.

Cipolaro added that other assets such as precious metals and certain stock industries have risen relative to BTC, and most asset classes have ushered in a "glorious year". Bitcoin also rose against the trend by 10% in September, which is usually a bearish month for the asset. The fourth quarter is usually a bullish period for Bitcoin, and various catalysts may cause history to repeat itself.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

The US government shutdown has entered its 36th day, leading to a decline in global financial markets. The shutdown has prevented funds from being released from the Treasury General Account (TGA), draining market liquidity and triggering a liquidity crisis. Interbank lending rates have soared, while default rates on commercial real estate and auto loans have risen, increasing systemic risk. The market is divided over future trends: pessimists believe the liquidity shock will persist, while optimists expect a liquidity release after the shutdown ends. Summary generated by Mars AI. The accuracy and completeness of this summary are still being improved as the Mars AI model is updated.

MarsBit•2025/11/06 05:03