These 4 Facts Show How 'Boring' Bitcoin Is Crushing the Stock Market

Packed with information, the report provides a surplus of data on the overall state of the cryptocurrency markets, noting that Bitcoin still outpacing traditional markets.

Bitcoin gets boring in November but.... November has thus far been rather uneventful if not boring with regards to price action.

Let's take a closer look at some striking stats demonstrating how Bitcoin is still outperforming the red-hot U.S. stock market despite the bearish sentiment that has been prevalent since June.1.

Bitcoin 150% vs. US stock market 23% YTD returns.

Currently, in the $8,000 to $9,000 range, Bitcoin has fallen significantly from its yearly high, although crypto's leading asset has still outperformed traditional financial benchmarks even at current prices - and traditional markets have had an excellent year.

Taking the aforementioned into consideration, one might consider dollar-cost averaging into Bitcoin exposure as a potential opportunity, in addition to traditional market exposure.

"CME Bitcoin futures volume was non-existent for the first three weeks of the month but increased during the last week of October given the dominant news cycle regarding Facebook and China. CME contract volume was under $200M for the month, the lowest since Jan 2018, but open interest remained relatively healthy."

Bitcoin trading activity on the Intercontinental Exchange's Bakkt platform revealed the same conclusion - that mainstream Bitcoin trading activity increases significantly when Bitcoin's market price makes major moves.

"Bakkt Bitcoin futures got off to a slow start last month, but both volume and open interest continue to grow. Open interest closed the month at a high of $900k on October 31.".

In the Blockforce report, Martin adds that Bitcoin has posted rising hash rate figures every month since May 2019, "Although the month-over-month change is slowing down after posting double-digit growth over the six months."