BTC could outperform other assets in terms of investment attractiveness in Q4 2022.
Bitcoin shows higher returns than tech stocks and commodities. This comes amid macroeconomic pressures that are being experienced by “most major assets.” Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, said in a research report.
The expert notes that October has historically been the best month for BTC. Since 2014, October has seen the asset grow by 20% on average. For this reason, the cryptocurrency community nicknamed the month “Uptober.” In the current situation, amid rising prime rates and negative macroeconomic factors, Bitcoin’s volatility level is lower than that of stock indexes.
However, the analyst notes that the volatility of the first cryptocurrency will recover as it transitions to growth. Given the ongoing bear market, BTC is essentially a risk-free asset, like gold and U.S. Treasury securities.
It’s worth noting that Kaiko analysts recently also noticed that the correlation between BTC and gold reached a one-year high. They previously noted that cryptocurrencies in Q3 were generally more profitable than traditional assets.
