Market participants prepare for the US presidential election
Many see the prospects for Bitcoin’s growth
Investors believe BTC will win
International consortium of news organizations developing transparency standards.
Bitcoin (BTC) ended September on a not very rosy note. The analysis showed that the coin lost 8% of its value within a month. At the same time, according to market observations, cryptocurrency often makes up for lost time in October..
The editors of BeInCrypto decided to find out what predictions the members of the crypto community give on bitcoin for the current month.
Many investors expect October to be a springboard for BTC to go into active growth in November. The probability of such an outcome is indicated by the statistics of the behavior of the cryptocurrency exchange rate since 2011.
Happy October! Glad we are almost done with September, the only month in which the simple average return for #Bitcoin is negative. pic.twitter.com/U6PFm4obSq
– Jan Uytenhout (@uytjan) September 30, 2020
Crypto Michaël, a popular trader in the crypto community, also noted that Bitcoin may improve its position with the departure of September..
More than happy to see September going away for October.
– Michaël van de Poppe (@CryptoMichNL) October 1, 2020
The Ecoinometrics project team, in turn, drew attention to the fact that the coin is significantly behind the intended trajectory of movement. The graph reflects the scenario of the behavior of the bitcoin rate, based on the analysis of the reaction of the cryptocurrency to the previous halving.
#Bitcoin after the Halving
Sep. 30, 2020
141 days after the 3rd halving. # BTC at $ 10,769.
This chart isn’t predicting exactly what path Bitcoin will take.
$300K BITCOIN Price Prediction!
What it shows is that Bitcoin is an asymmetric bet with a 10x growth potential during this cycle.
See for yourself. pic.twitter.com/DLFESrqQXc
– ecoinometrics (@ecoinometrics) September 30, 2020
Trader Tony Weiss also expressed his opinion about the prospects for further movement of BTC. He believes that at the moment, the prospect of entering a correction is open before bitcoin. In order for a positive scenario to unfold on the market, in his opinion, cryptocurrency needs to overcome the level of $ 11 thousand. Tony Weiss also drew attention to the possible impact of the upcoming presidential elections in America on the behavior of bitcoin.
No $ BTC price show today but nothing is changed since Tuesday, here are the Trading #Bitcoin highlights from the last episode:
Full video https://t.co/nDB1dDzv2W pic.twitter.com/nG83LiT3iA
– Tone Vays (#EndLockdowns) (@ToneVays) October 1, 2020
BTC critic, economist who managed to predict the 2012 crisis, Nouriel Roubini drew attention to the behavior of the stock market, against the background of the choice of one or another US leader (depending on their political views).
“Under the Democratic leader, the stock market grew 3 times faster than under the Republicans at the head of the country,” he said in his microblog..
The Most Realistic Bitcoin Price Prediction for October 2020 | MUST WATCH Bitcoin Prediction
So on average stock markets under Democratic administrations have done 3 times better than under Republican ones https://t.co/lINUYRvopD
– Nouriel Roubini (@Nouriel) October 1, 2020
We will remind, earlier it turned out that bitcoin correlates well with the stock index S&P 500. According to the logic of Nouriel Roubini, BTC has a better chance of growth in case of victory of the representative of the Democrats – Joe Biden. Another candidate – Donald Trump, in turn, represents the Republicans – a party in which, according to statistics, the stock market, and then the digital asset market, are at risk of falling..
Read also: Full uncorrelation with traditional markets awaits Bitcoin – Willie Wu
Some members of the crypto community drew attention to the fact that regardless of the election results, the only correct decision would be to invest in bitcoin.
Anyone else watching that debate think to themselves, now might be a good time to buy some Bitcoin?
– Ben Mezrich (@benmezrich) September 30, 2020
At the same time, the advantage of Joe Biden over Donald Trump during the debate, according to a number of investors, can be regarded as a signal to buy BTC.
People are saying that this debate hasn’t changed anyone’s mind, but I beg to differ.
I’m buying Bitcoin and bullets.
– Dan Held (@danheld) September 30, 2020
Technical analysis Investing in and trading cryptocurrencies is impossible without the use of technical and fundamental analysis. Despite the popularity of both of these tools, intraday … More, as many members of the crypto community believe, also indicates the prospects for the growth of the bitcoin rate in the near future.
Similar structure and vibes.
– Inmortal technique (@inmortalcrypto) September 30, 2020
And for those who are tired of predictions, BeInCrypto editors have prepared an overview of the funniest memes of the week.
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..
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