According to BlockBeats, on October 7, New York Digital Investment Group (NYDIG) said that despite a "seasonally weak" third quarter, Bitcoin is still the best performing asset so far this year. Greg Cipolaro, head of research at NYDIG, said in a report on October 4 that sales in the third quarter grew by only 2.5%, rebounding after a decline in the second quarter, but was hampered by large-scale sales during the same period.
“Bitcoin remains the best performing asset class in 2024, but its lead has narrowed,” Cipolaro said. Bitcoin is up 49.2% year to date. Trading has remained largely range-bound for much of the past six months amid major headwinds such as the Mt. Gox and Genesis creditor distributions, which totaled nearly $13.5 billion, and massive BTC sales by the U.S. and German governments.
Cipolaro added that other assets such as precious metals and certain stock sectors rose relative to BTC, and most asset classes had a "stellar year." Bitcoin also bucked the trend in September, rising 10%, which is typically a bearish month for the asset.
