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Reading: Latest Predictions of Master Analysts for Cryptocurrencies, Targets for the End of October
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EdaFace Newsfeed > Latest News > Crypto News > Latest Predictions of Master Analysts for Cryptocurrencies, Targets for the End of October
Crypto News

Latest Predictions of Master Analysts for Cryptocurrencies, Targets for the End of October

vitalclick
Last updated: October 20, 2024 10:39 am
7 months ago
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Bitcoin $68,412 The fact that its price is at $68,400 and making higher peaks at the time of writing is positive for altcoins. We did not see a major pullback after the last test of $69,000. This situation is extremely positive. Crypto We see movements that feed the hopes of those who expect the currencies to rise steadily as of October.

Cryptocurrency Expert CommentsWhat Should Crypto Investors Do?

Cryptocurrency Expert Comments

Weekend BTC It is consolidating at higher levels and Bitcoin’s situation is positive compared to previous months. The last major pullback did not produce a deeper bottom. Moreover, BTC is at the $ 69,000 level again after about 80 days. QCP Capital analysts discussed the current situation and shared their expectations.

“This week crypto- It was an exciting week for you. BTC rose to 69,000 with an increase of 10.48%, making the psychological level of 70,000 visible. Will this rally continue without any significant macro data next week?

BTC ETF It saw a significant amount of inflows throughout the week. It closed on Friday with $203.3 million inflows and a 6-day winning streak. Steady inflows into the ETF highlight that institutional demand remains strong.

With the SEC approving BTC ETF options to list on the NYSE, we believe this will provide the liquidity needed to attract sustainable inflows into the ETF.

Bitcoin dominance is currently at a multi-year high of 58%, a level last seen in April 2021. As we approach the key resistance at 60, we believe this will set the stage for a strong recovery in L1 coins.

Inflation in Japan remains weak, with headline inflation falling from 3.0% to 2.5%. Market expectations indicate that the BOJ will not raise interest rates anytime soon, contributing to a rally in USD/JPY, which is currently below 150.

The fact that US stocks are close to all-time highs and the Japanese yen has entered a new weakening trend indicates that risk perception will become stronger as the US elections approach. “This will push risk assets even higher and support our Uptober narrative.”

What Should Crypto Investors Do?

Analysts BTC He thinks that ETH has not yet reached the desired level compared to the increase in its price. This means there could be an attractive opportunity in the altcoin king. Besides RWA Growing interest in Ethereum $2,647 causing its network to be used more actively by trillion-dollar asset managers.

“While BTC is only 7.9% away from its all-time high, ETH is long overdue for a strong recovery (45% below its all-time high). “With the forward fundamental also rising, yields are likely to become more attractive.”

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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