Bitcoin has successfully defeated gold for the first time since June. The world’s biggest cryptocurrency by market cap ended October with double-digit gains after following a losing streak for three consecutive months.
According to the data by BitStamp, Bitcoin gained 10.26 percent, whereas gold gained only 2.74 percent in the last month. In September, Gold dropped 3.17 percent, witnessing its biggest monthly drop since June 2018. However, positivism is anticipated towards gold’s performance in November as the U. S.-China trade front may lessen haven demand for the metal.
BTC is currently trading at $9,170. Prices surged 28 percent in the three days to Oct. 27, with trading volumes reaching the highest level since February 2018. Also, the recent fall from $10,350 to $9,000 was followed by a drop in volumes.