The upward trend in the price of bitcoin during the month of September could extend to reach an all-time high in the month of October, according to cryptocurrency market analysts.

Normally, the ninth month of the year has been favorable for BTC. In 2024, despite the ups and downs in the value of the cryptocurrency, investors and analysts are optimistic.

Traders and analysts are taking into account the possible boost from factors such as the reduction in interest rates and the presidential elections in November in the United States. A “robust stock market” may also be favorable to the main digital asset.

In October, the price of BTC could reach a new all-time high (ATH) “with the breakout of the bearish channel as the key” to give way to a bullish scenario, which could boost the value of bitcoin to $100,000. “If everything follows a logical course, this last quarter we could see bitcoin marking a new ATH, far exceeding $75,000,” the analysts indicate.

M.Pino

Source: criptotendencias

(Reference image source: Getty Images for Unsplash+)

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La entrada Bitcoin price could hit all-time high in October apareció primero en Bitfinance.

The cryptocurrency market experiences ups and downs that keep investors in constant tension. However, the Pepe memecoin remains and exceeds expectations, with a historical increase in its value of 300 %.

With this score achieved over the weekend, Pepe the toad token has propelled itself above the biggest competitors, shib and dogecoin.

The advance of the memecoin until this Monday places it at the moment as the third most popular one in the crypto market.

The new token inspired by the well-known character Pepe the toad has only been on the market for two weeks, and it is already showing signs of strength in the global list of cryptocurrencies.

According to the CoinGecko portal, the price increase of Ethereum’s ERC-20 token “translated into an increase in market capitalization above USD $550 million for the first time. As a result, PEPE managed to enter the top 100 of the main digital assets by market capitalization and is ranked number 93”.

It is important to highlight that the increase in the value of the memecoin is also strongly marked by its recent incorporation into the OKX centralized exchange.

M.Pino

Source: diariobitcoin

(Reference image source: Kanchanara, Unsplash)

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La entrada Pepe token price shoots up 300 % apareció primero en Bitfinance.

The cryptographic market continues its downward trend, as evidenced by the loss of value of Bitcoin (BTC) this Monday, June 13, when it reached a value of 22,800 dollars, registering “a decline of 67 % from its historical maximum of November 2021, given the prospect of rising inflation and an imminent increase in interest rates by the Fed.”

With the fall in price, the main cryptocurrency registers a deterioration of 14 % in the last 24 hours, which exceeds the 55 % collapse registered last July 2021 when the currency went from 64,698 to 28,900 dollars.

The declining trend of bitcoin impacts the behavior of the market and the prices of other digital currencies, as well as the price of shares. Since the beginning of 2022, the cryptocurrency market capitalization decreased 50.66 % to stand at 963,768 million dollars.

Since February 2021, it is the first time that the value of digital currencies has fallen below a trillion dollars, while the Nasdaq index fell 2.4 % in the last 24 hours.

Bitcoin RSI decreases

The fall in the price of Bitcoin is impacting the indicator of relative strength of Bitcoin (RSI) which is at minimum values. Said indicator “compares the magnitude of profit days against loss days, with the objective of determining if the asset is oversold or overbought.”

Currently, the RSI of Bitcoin is the lowest in the history of the cryptocurrency at 43.7; while the market capitalization of the cryptocurrency decreased 11 % in 24 hours and stood at 450,000 million dollars.

When the value of Bitcoin is analyzed together with the other cryptocurrencies, it is observed that the marked depreciation “has produced a rebound in the dominance of that cryptocurrency, which has increased from 40 % to 47 % so far this year”, which indicates that despite the crisis in the Bitcoin market, it is strengthening against the other altcoins.

Bitcoin has lost 50.7 % of market capitalization in 2022 but the rest of the altcoins have retreated 60 %, according to figures from CoinMarketCap.

M. Rodríguez

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Source: criptonoticias.com

La entrada Bitcoin fell 67% and reached its lowest point in 18 months apareció primero en Bitfinance.