Bitcoin has once again proven its dominance in the financial markets in 2024, with an impressive annual return of 49.2%. Despite facing seasonal challenges and sales pressure during the third quarter, Bitcoin managed to bounce back and outperform other asset classes. The New York Digital Investment Group highlights that Bitcoin’s low correlation with US stock markets is a valuable feature for investors, providing diversification and reducing portfolio risk during times of market volatility.
Looking ahead, experts are optimistic about Bitcoin’s performance in the fourth quarter, especially with the upcoming US presidential election in November. The current trajectory of Bitcoin’s growth cycles suggests that the cryptocurrency may be on the cusp of another significant rally. Additionally, the potential for bigger returns in the crypto asset market if Donald Trump wins the election adds to the positive outlook for Bitcoin investors.
