Bitcoin Posts Record Q3 Gain as Year Turns Around

Bitcoin is on track to record its second-strongest third quarter in CoinGlass data. The cryptocurrency has gained roughly 43.5% during the July-September period, surpassing 2013's gain of 40.6%. This marks a sharp turnaround for Bitcoin, which lost 22.2% in Q1 and shed another 14.09% in Q2.

Historically, Q3 has been less spectacular than other quarters. CoinGlass puts the average Q3 return at just 8.73%, with a median return of only 2.29%. However, this year's gain is notable, particularly since it has already surpassed the 2017 record of 80.41%.

The fourth quarter is where Bitcoin's historical numbers become more striking. CoinGlass puts the average Q4 return at 77.07%, by far the highest of the four quarters. Some of the cryptocurrency's most explosive rallies have occurred during this time, including a 479.59% gain in Q4 2013 and a 215.07% gain in Q4 2017.