Bitcoin Posts Rare Three-Month Winning Streak Last Seen in 2012

Bitcoin rose 4.8 % in July and 25.2 % in August, and is on course for a third straight monthly gain in September, currently up 10.9 % near $86 140. The last time the cryptocurrency posted three consecutive positive months was in 2012.

Back then October brought a 9.7 % drop to a low of $10.17, which later became the launchpad for a more than 2 000 % rally into April 2013.

The market today looks very different. US spot Bitcoin ETFs have pulled in over $5.5 billion since August, and large institutions now dominate trading through futures and options. Giottus CEO Vikram Subburaj says the old percentage gains are unlikely to repeat.

With trillions in market value and deep liquidity, any future advance is expected to be more measured than the moves seen when Bitcoin was a thinly traded asset worth around $10.

Based on information from https://cryptonews.net