Bitcoin has performed better than gold

According to an analysis by Coindesk, Bitcoin outperformed gold in October. The study was based on the prices recorded by Bitcoin on the Bitstamp exchange this year.

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1 III quarter for assets

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According to the results, Bitcoin recorded 10.26% gains in October, compared to only 2.74% recorded gold.

Bitcoin made gains for five consecutive months from February to June – the longest earnings period since August 2017.

At the same time, gold recorded losses in February, March and April. In May and June it had gains of 1.7 and 7.9 percent. By comparison, Bitcoin increased by 62% and 25.89% respectively in the same months.

III quarter for assets

In the third quarter of this year, the situation changed: gold had slightly better results than Bitcoin in July-September. Both value reserves have shown poor results, however.

In September, for example, Coindesk analysis showed that Bitcoin fell 13.51%, while gold fell 3.17%.

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October, however, has shown positive results for both gold and BTC, and November has the potential to continue the trend.

Bitcoin has the opportunity to surpass gold again, as financial markets are optimistic about the US-China trade war. This could lower the demand for the precious metal.

At the same time, history has shown that the last quarter of the year usually has positive results for cryptocurrencies. Coindesk analysts have shown that Bitcoin has grown in six of the last eight years. In addition, the proximity of the half-reward event of the block reward usually results in increased demand on the market.

Currently, Bitcoin is trading at about $ 9,400, an increase of $ 200 from last week’s value. The short-term evolution depends largely on an increase in the volumes of transactions, which have decreased slightly in the last days.