In this week’s episode of Market Report, Cointelegraph’s resident experts discuss why Bitcoin whales are piling up right now and why this could be significant.
On this week’s The Market Report Show, Cointelegraph’s resident experts discuss why Bitcoin
BTC
dial down
$21,251
The whales are accumulating now and why this could be significant. Could this lead to the next bullfight?
To start, we break down the latest news in the markets this week:
The Least Volatile ‘Uptober’ Ever: 5 Things You Need To Know About Bitcoin This Week
October 2022 has yet to prove itself as analysts “want” to predict Bitcoin price volatility for November. Bitcoin started the last week of “Uptober” in a solid average mood as the trading range continues to stop the entire trading range. Could this mean that a major trend reversal is about to happen? This week will be another big one with the release of the US Personal Consumption Expenditures (PCE) index for September. The following week will see the US Federal Reserve meeting to decide on interest rate increases based on specific data inputs, including PCE and the consumer price index. The market is currently expecting another 75 basis point hike, but what will the actual numbers be and how will they affect the market?
What happened to all the hype surrounding “Uptober”? So far, it has not delivered compared to October 2021. Some analysts are expecting a dramatic turnaround in November, but Bitcoin has a lot of work ahead of it if it is to hit its previous all-time high.
Bitcoin will skyrocket in 2023, but be careful what you wish for
The Bitcoin community is divided on whether the price of the token will go up or down in the next year. Most analysts and technical indicators suggest that it could fall between $12,000 and $16,000 in the coming months. This correlates with an unstable macro environment, stock prices, inflation, federal data and, at least according to Elon Musk, a possible recession that could last until 2024. The price could go up to $80,000 and higher. There is evidence to support both sides. We discuss what the next year will bring for Bitcoin.
Our experts cover these and other developing stories, so be sure to tune in to stay up to date on the latest from the crypto world.
Next up is a segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: average average.
Finally, we have insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two altcoins that stand out this week, so be sure to log in to find out.
Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room and write your questions there. The person with the most interesting comment or question will have a chance to win a one-month subscription to Markets pro.
The market report airs every Tuesday at 12:00 p.m.
