{"id":67754,"date":"2022-10-08T09:01:01","date_gmt":"2022-10-08T09:01:01","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=67754"},"modified":"2022-10-08T09:01:01","modified_gmt":"2022-10-08T09:01:01","slug":"new-study-says-btc-outperformed-both-sp-500-and-nasdaq-in-september","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=67754","title":{"rendered":"New Study Says BTC Outperformed Both S&P 500 and Nasdaq in September"},"content":{"rendered":"

\"\"<\/p>\n

Despite seeing a 3.11% drop in value in September, bitcoin still outperformed both the S&P 500 and Nasdaq, the latest Cryptocompare report has shown. Ethereum, on the other hand, was named \u201cthe worst performer after the long-awaited Merge proved to be a \u2018buy the rumour, sell the news\u2019 event.\u201d Increased tether and U.S. dollar trade volumes for bitcoin are said to suggest panicking investors were dumping depreciating currencies in favor of the cryptocurrency.<\/strong><\/p>\n

Ethereum Sees \u2018Biggest Decline\u2019<\/h2>\n

According to the latest Cryptocompare report, bitcoin, which saw a negative return of 3.11% in September, still outperformed \u201cboth the S&P 500 and Nasdaq which saw negative returns of 9.34% and 10.5% respectively.\u201d Only Solana \u2014 the cryptocurrency among the tracked four that saw a positive monthly return of 5.59% \u2014 and gold (2.87%) had better risk-adjusted returns than bitcoin.<\/p>\n

\"New<\/p>\n

Ethereum, on the other hand, is identified in the report as \u201cthe worst performer [among four tracked cryptocurrencies], after the long-awaited Merge proved to be a \u2018buy the rumour, sell the news\u2019 event.\u201d<\/p>\n

To support this assertion, the report points to the crypto asset\u2019s contrasting fortunes in August and September. After seeing its best risk-adjusted returns in August, ETH<\/a> still went on to have \u201cthe biggest decline\u201d in September, the same month the Ethereum blockchain was switched to a proof-of-stake (PoS) consensus mechanism.<\/p>\n<\/p>\n

Traders Dumped Fiat and Piled Into BTC<\/a><\/h2>\n

In terms of the different assets\u2019 volatilities, the report said bitcoin was the \u201cleast volatile asset and the most dominant\u201d among four cryptocurrencies that were tracked in the month of September.<\/p>\n

Explaining the study\u2019s crypto market volatility findings, the report states:<\/p>\n

\n

Volatility across cryptocurrency markets saw a slight increase in September amid the interest rates spikes and the unstable macro environment. ETH<\/a> and SOL continued to be the most volatile assets, with 30-day volatility of 80.0% and 82.6% respectively. Bitcoin\u2019s volatility rose 19.2% in September breaking a declining trend that started in June.<\/p>\n<\/blockquote>\n

Meanwhile, the findings of Cryptocompare\u2019s examination of both USDT<\/a> and U.S. dollar traded volumes suggest that panicking investors were dumping depreciating currencies in favor of BTC<\/a>. In September alone, traded volumes in tether and the greenback went up \u201cby 15.4% and 15.1% respectively.\u201d<\/p>\n

\"New<\/p>\n

According to the report, this could mean \u201cmarket participants are piling into BTC<\/a> following recent volatility in fiat currencies, including the British pound and Japanese yen.\u201d<\/p>\n

In contrast, USDT<\/a> volumes for ETH<\/a> during the same \u201csaw a big drop of 49.4%,\u201d while SOL saw \u201ca noticeable rise of 10.5% in USDT<\/a> volumes in September.\u201d ADA<\/a> and SOL both saw declines in USD volumes.<\/p>\n

Do you agree with Cryptocompare\u2019s latest findings? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite seeing a 3.11% drop in value in September, bitcoin still outperformed both the S&P 500 and Nasdaq, the latest Cryptocompare report has shown. Ethereum, on the other hand, was named \u201cthe worst performer after the long-awaited Merge proved to be a \u2018buy the rumour, sell the news\u2019 event.\u201d Increased tether and U.S. dollar trade […]<\/p>\n","protected":false},"author":2,"featured_media":67755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-67754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/67754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67754"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/67754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/67755"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}