In spite of unfavorable macroeconomic headwinds and a stagnant crypto market, Bitcoin (BTC) managed to outperform equities and most major fiat currencies in the third quarter of 2022, except the US Dollar Index (DXY).
Bitcoin managed to hit $19,564 to end -1% quarter-over-over (QoQ) in Q3, despite its price falling in tandem with US equity markets for most of the third quarter. The US Dollar Index gained 7% over the previous quarter, according to statistics from independent crypto data aggregator CoinGecko shared with Finbold.
The analysis of Bitcoin’s performance shows that it also manages to outperform crude oil, gold, the Japanese Yen, and iShares 20+ Year Treasury Bond ETF (TLT).
However, when looking at performance year-to-date (YTD), Bitcoin remains the asset that has performed the poorest, with a loss of 58% per CoinGecko.
Bitcoin predicted to outperform most assets
Major, Jordan. Bitcoin outperforms all major asset classes in Q3 2022 except US Dollar Index. 24 Oct, 2022, https://finbold.com/bitcoin-outperforms-all-major-asset-classes-in-q3-2022-except-us-dollar-index/.