bullish

Genesis

Bitcoin

Rise

The leading cryptocurrency Bitcoin (BTC) experienced sharp declines in the third quarter. Despite these declines, BTC fell below $50,000 and still remains the strongest asset.
Bitcoin remains the best-performing asset with an annualized gain of 49.2% so far this year, NYDIG head of research Greg Cipolaro said in a recent note.
Cipolara also added that BTC recovered from the declines in the second quarter and gained only 2.5% in the third quarter, but was negatively affected by the massive sell-off.
<blockquote>
 “Bitcoin has been in steep declines for much of the past six months due to significant headwinds, including the Mt. Gox and Genesis debt distributions and massive BTC sell-offs from the U.S. and German governments.
 Despite this negative outlook, Bitcoin still remains the best-performing asset class in 2024.”
</blockquote>
Bitcoin Price Expectations Rise!
Cipolara also stated that the outcome of the upcoming US elections is expected to positively affect the Bitcoin and cryptocurrency sector regardless of the winning candidate, saying, “The upcoming US election will play a big role in the market performance in Q4, with even bigger gains expected if Trump wins. Q4 is traditionally a bullish period for BTC, and there are a number of catalysts that could cause history to repeat itself.”
Cipolaro lastly said that Bitcoin’s 90-day moving correlation with US stocks continued to increase in Q3 and remains a good option for portfolio diversification.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/nydig-announced-bitcoin-is-still-at-the-top-despite-the-falls-a-rise-may-be-near/" rel="noopener noreferrer nofollow">NYDIG Announced! Bitcoin Is Still at the Top Despite the Falls, a Rise May Be Near!</a>

NYDIG Announced! Bitcoin Is Still at the Top Despite the Falls, a Rise May Be Near!

Bitcoin Sistemi EN

Other articles published on Oct 7, 2024

These Important Events Can Impact Bitcoin’s Price This Week

Bitcoin Approaches $64K as “Memecoin Supercycle” Gains Traction with MOG and POPCAT Soaring

The Open Network (TON) launches Memelandia, a decentralized hub to expand its meme coin ecosystem

US judge approves FTX’s repayment plan

Anduro, Marathon Digital’s (MARA) Layer-2 Network, Launches a New Tokenization Platform!

Cutoshi (CUTO) Raises Over $280K In Days Of Presale Launch! Is This The Next DOGE Or PEPE?

Join our free newsletter for daily crypto updates!