Investors who put their assets in Bitcoin were able to get 18% returns in the third quarter of 2020. This happens despite the COVID-19 pandemic and its devastating effects on the world economy. Currently, the most important topic about the cryptocurrency is related to the outcome of the Presidential election in the USA, that will take place in early November.
Although the cryptocurrency market as a whole is in a volatile state, investments in Bitcoin enjoyed a return of 18% in the third quarter. BTC opened this quarter with a price close to $9,130 and started moving up to its high of the year at $12,475, marked in August. In August and September, the first cryptocurrency moved in the range between $12,475 and $10,000 where it is still today.
The markets expect development on the health condition of US President Donald Trump who tested positive for COVID-19. Furthermore, the exchange course of BTC may go up or down depending on the expectations of investors for the outcome of the incoming election.
At the time of writing this article, Bitcoin’s price stands at $10,620 and has a market valuation of 196.66 billion. Uncertainties on the market are expected to bring about higher volatility on crypto in the coming month. This could also be a good opportunity for speculators.
