Seeking Alpha
2021-10-03 17:30:00

Bitcoin wraps up Q3 on a strong note with investor sentiment backing the move

Even as digital assets face increased scrutiny from regulatory authorities, bitcoin (BTC-USD), the largest cryptocurrency by market cap, climbed by more than 30% in Q3. In the same period, the second largest crypto, ethereum (ETH-USD), outperformed BTC everyday since Aug. 1. In the past year, Ether (+751%) has led BTC (+310%) since April 2. And for some, the 2021's Q3 sets up bitcoin for further gains. On the technical side, "the bitcoin long term log chart looks pretty luscious," Real Vision Founder and CEO Raoul Pal wrote in a tweet. "Who knows if the wedge breaks on first attempt but a consolidation pattern of this magnitude usually leads to a very, very powerful upside move." Of course, bitcoin is still below its all-time high of $65.5K from mid-April, though the token tipped off Q4 with its biggest intraday gain since July with as high as a 10% spike on Friday to $48.1K,

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