NYDIG: Bitcoin has risen 49.2% so far this year, despite a weak third quarter

On October 7th, 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 said in a report on October 4th that sales in the third quarter only increased by 2.5%, rebounding after falling in the second quarter, but were hindered by large sales during the same period.

 

Cipolaro stated that Bitcoin has risen by 49.2% so far this year. In the past six months, due to significant resistance such as the distribution of Mt. Gox and Genesis creditors, as well as the massive selling of BTC by the US and Germany governments, trading has remained range-bound.

 

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 "brilliant year". Bitcoin also rose against the trend by 10% in September, which is usually a bearish month for the asset.

 

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