Bitcoin On Track For +24% In October

Plus some huge numbers for Q3 crypto loans

Happy Friday, Blockfolians

The Lede

The month is coming to an end. This weekend marks Halloween, Samhain, All Saints Day, and…of course, the 12-year anniversary of the release of the Bitcoin White Paper.

5 Reasons Why The Bitcoin Bull Run Has Started

It also marks a month that was rather difficult for most financial assets. U.S. stocks slid about 1.6% on the month, and even gold was down 0.5%.

Bitcoin on the other hand saw an impressive 24% gain. There are many reasons:

  • Rising COVID-19 cases worldwide and the expectation of more stimulus

  • US election volatility

  • Bullish consumer news such as PayPal’s launch of crypto services

Whatever the exact combination, this asset continues to show its strength in the macro environment.

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Highly Relevant Reading


Community Commentary

The network is the net worth
Reinforcing our point from the Lede

A Really Big Number We Should Be Paying Attention To

$5.2B

That’s the number of new loans originated in Q3 by crypto lender Genesis


Final Thought