Bitcoin Jumps 43% in Third Quarter for Best Q3 Performance Since 2017
JH Kim
Summary
- Bitcoin (BTC) jumped 43% in the third quarter, posting its strongest third-quarter performance since 2017.
- Over the same period, U.S. Treasury yields remained above 5%.
- Even as rate-hike expectations have fallen sharply, elevated U.S. Treasury yields could limit further gains in Bitcoin.
Forecast Trend Report by Period
Bitcoin jumped 43% in the third quarter, marking its strongest third-quarter gain since 2017. Still, U.S. Treasury yields above 5% are being cited as a headwind to further gains.
Cointelegraph reported on Oct. 5 that Bitcoin rose 43% in the third quarter. Over the same period, U.S. Treasury yields remained above 5%.
The probability of a Federal Reserve interest-rate increase in October plunged to 24% from more than 75%.
Even as expectations for another rate hike have fallen sharply, elevated U.S. Treasury yields could limit further upside for Bitcoin.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.