In October the price of bitcoin rises more than gold
Bitcoin

In October the price of bitcoin rises more than gold

By Marco Cavicchioli - 4 Nov 2019

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In October bitcoin recorded a higher price increase than gold

This hasn’t happened since June, when gold closed the month with +7.96%, while bitcoin registered +25.89%. 

In July, August and September, BTC’s performance was always lower than that of gold. In fact, these three months all ended with a negative performance for bitcoin, while gold closed in negative only in September.

In October, however, both gold and bitcoin closed in positive territory, with gold at 2.74% and BTC at +10.26%

Actually, in addition to July, August and September, the only month in 2019 in which bitcoin closed with a performance lower than that of gold was January, and during the year, from December 31st, 2018 until October 31st, 2019, the accumulated increase was 148% for BTC and 21% for gold. 

After the fall in January, bitcoin recorded five consecutive positive months, until July, when there was a cycle of three negative months. This cycle was interrupted in October. 

Gold, on the other hand, started 2019 in positive territory, but then recorded two negative months. In June it began to grow again, with the only interruption in September, when it had temporarily returned to negative territory with the highest monthly decline since June 2018. 

Whereas taking into account the three quarters ended in 2019, gold has always closed in positive territory compared to the previous quarter

By contrast, bitcoin, due to a second-quarter closed with an extraordinary +163%, fell by 23% in the third quarter, mitigated, however, by the recovery in October

The price at which BTC closed October, around $9,200, is still lower than the price at which it closed the second quarter, around $10,800, but not by much. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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