Bitcoin (BTC) was aiming to hold $44,000 on October 1, when the end of the month triggered a belated show of strength.

1 hour BTC/USD candlestick chart (Bitstamp). Source: TradingView
BTC monthly close in line with PlanB . forecast
It followed the data of Cointelegraph Markets Pro and TradingView BTC/USD as it first returned to the $44,000 mark on Thursday and then tested lower levels before climbing higher.

While Bitcoin remains below $45,000 and above resistance, Bitcoin did not disappoint with month-end results, which almost exactly matched the second month stock allocation model maker PlanB’s forecast for the second month. Row.

With a forecast of $63,000 for the month of October, Bitcoin expected to catch up in the fourth quarter.

– September was bad. October is wonderful. November is wonderful. December is awesome,” Cointelegraph member Michael van de Poppe summed up and told Twitter followers that “they should buy what they can.” “”

Van de Boep highlighted historical performance in the different months of each year, which Cointelegraph previously referred to as something other than September, calling it a “boring” 30 days.

But others were more cautious. In its latest market review, cryptocurrency exchange QCP Capital said it will take a cautious approach to the market as a whole.

“Overall, we are struggling to find some contention between macroeconomic factors and market contraction. Leaders summarized our strategy for the fourth quarter to remain neutral and somewhat flexible.

The macro factors that played a role included a recurring crypto dispute in China and two concerns in the United States: legislation and the possible approval of the Bitcoin Trading Fund (ETF).

On Friday, a vote on the government’s infrastructure proposal, which had been scheduled for Monday, was again postponed after the shutdown later this month was blocked by a separate vote.

Ether returns to $3,000
Meanwhile, Altcoins saw another 24 hours of modest or unchanged moves, led by Binance Coin (BNB) with a daily gain of 6%.

Related: Bitcoin ‘FOMO Rally’ Long ago BTC could have topped $200,000 – Bobby Lee

All of the top 10 cryptocurrencies by market capitalization are highlighted in green at the time of writing, but they are in stark contrast to recent moves.

Ether (ETH), the largest altcoin, traded over $3000 with a return of 3%.

Source: CoinTelegraph

LEAVE A REPLY