Bitcoin (BTC) capped the end of the third quarter as the top performing cryptocurrency of the top five cryptocurrencies in terms of market cap.
Bitcoin (BTC) surpassed all of its rivals the past 3 months, gaining nearly 75%.
Rival alt coins performed well but couldn’t match Bitcoin’s 75%.
Ethereum (ETH) rose 8%
Ripple (XRP) fell 27%
Litecoin (LTC) jumped almost 37%
Bitcoin Cash (BCH), the new digital currency formed after the Bitcoin (BTC) fork, wasn’t included in this data as it didn’t trade the full quarter.
Investors changed course this past quarter, and shifted their funds out of alt coins and back into the more stable and secure Bitcoin (BTC). At the end of the second quarter in June, Ethereum (ETH) had seen its price rise over 500 percent to all time highs, compared to only 8 percent in the third quarter.
Even though it has been faced with challenges such as Chinese regulations of cryptocurrency exchanges, the Bitcoin Cash (BCH) “fork” that occurred, and negative comments from JP Morgan CEO Jamie Dimon, Bitcoin (BTC) continued to truck on, and actually performed exceptionally well during the previous quarter despite the negative pressure.
Other cryptocurrency coins not in the top five in market capitalization that saw large increases during the third quarter include: