The month of September has barely started and traders from Bitcoin already following an eye on the currency’s price, which registered a 5% increase in the first days of the month. With that, she can still register the second or even first major historical closing of the third trimester.
Remember that the third quarter of a year is from July to September. In this period last year, Bitcoin registered an appreciation of 17.98%. However, the record remains that of 2017, when the price of BTC increased by 80% between the 1st of July and the 30th of September.
In 2021, since the first of july, when Bitcoin closed its quote at $33,572.12, market traders already saw a movement of 42% for discharge.
Today, each coin is worth, this Saturday, US$ 49,927.21, according to information from CoinMarketCap.
Bitcoin aiming to reach new records
In addition to going down in history, if the high close is confirmed, the movement shows that the market has recovered strongly from the fall in the second quarter.
In the second half, the loss of value had been 40% — after the first quarter of 2021 had closed at a high of 102%.
Remember that the BTC/USD follows testing the resistance of the $50,000, and in the last three days the barrier has already been broken, but the upward movement was not sustained. If the price remains high, Bitcoin it could even have its main historical closure in 2021 of the third quarter changed.
Bitcoin’s legendary critic does not believe that a rise in the price of digital currency changes its reserve status, which has been linked to gold
When seeing the rise of Bitcoin, some CNBC channel journalists said that digital currency outperformed gold as an inflation hedge, as the metal continues to devalue during the year in the midst of the global crisis, while the BTC grows against the dollar.
For Peter Schiff, a legendary trader who dislikes Bitcoin, this is an important signal for gold, which could renew its rally in the market.
“Anchors at CNBC agree that gold has lost its luster. Which has been replaced as a safe haven against inflation by Bitcoin, other cryptos and NFTs. This is a bullish signal for gold and is exactly the analysis you’d expect to hear from CNBC just before a big gold rally!”
the anchors on @CNBC agree that #gold has lost its luster. That it’s been replaced as an #inflation hedge by # Bitcoin, other #cryptos and #NFTs. This is a very bullish sign for gold, and it’s exactly the analysis one would expect to hear from CNBC just before a major gold rally!
— Peter Schiff (@PeterSchiff) September 3, 2021
However, despite Schiff’s belief that gold will renew its high, this asset, which in its history has always been considered a protection asset, will have a long way to go to reach Bitcoin, since the digital currency has already appreciated 72% in 2021 , while metal fell by nearly 4%.
Thus, while the Bitcoin quote struggles to have its highest closing in a quarter, gold doesn’t value more than the S&P 500, which has risen 5.5% since July, while the metal has only appreciated 3.7%.
What could hold Bitcoin higher in the coming days is the “cooling” of investor interest in trading the cryptocurrency, according to Google data.