Bitcoin October Slump: Fourth Worst On Record Since 2013, Per Fortune Analysis
As October comes to a close, Bitcoin (BTC) has disappointed many who had anticipated the month to be a strong one for the cryptocurrency, often referred to as “Uptober” due to its historically positive performance. Instead, Bitcoin finished the month down, creating a gap of approximately 13% from its all-time high. Historical Trends Suggest Bitcoin Could Rebound Joel Kruger, a market strategist at LMAX Group, noted that while October was a letdown compared to historical trends, it’s essential to contextualize the price movements. He remarked, “Prices have held up well overall, especially....
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$60,000 would be a monthly record, but longstanding analysis demands a minimum of $63,000 by the start of November. Bitcoin (BTC) delivered fresh retests of $60,000 support on Oct. 31 with a matter of hours left until the crucial monthly close.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewRecord monthly close hangs by a threadData from Cointelegraph Markets Pro and TradingView showed lackluster price action on Sunday, with BTC/USD below the "worst case scenario" for its October close.Analysts were eagerly awaiting to see if the end of the month could provide a turnaround and....
The price of bitcoin has surged past $400, gaining over 9% today at press time. Last time the CoinDesk BPI closed at over $400 was in late September, although the price briefly hit $409 in mid-October. Black October, encouraging November. For the first nine months of the year the price remained well above $400, aside from the BTC-e flash crash in August and a brief slump in April, likely caused by deposit freezes at Chinese exchanges. Gradually declining from July onwards, bitcoin reached a low of $319 on the 5th October, by far the worst month of the year in terms of price. By 14th....
The Egyptian pound recently became the latest currency from the African continent to see its value versus the greenback slump to a record low. The pound’s fall came amidst reports suggesting the Egyptian government is hoping to strike a loan deal with the International Monetary Fund (IMF) within a month or two.
Egyptian Pound Still Overvalued
The Egyptian pound has become the latest African currency to depreciate to a record low versus the U.S. dollar, after it slipped to an exchange rate of 19.6736 for every greenback on October 4. Before this, the currency’s....
The flagship cryptocurrency has closed October in profits seven out of nine times since 2013, raising hopes that it would be able to log a fractal bull run in the next 31 days. Bitcoin (BTC) failed to break the so-called September curse as its price fell by a little over 7% into the month despite a strong rebound rally right ahead of its close. Nonetheless, Bitcoin looks to be making a comeback in October, a month known for painting aggressive bullish reversals.Bybt data shows that Bitcoin has closed October in profits the majority of the time since 2013 — with a success rate of over 77%.....
The XRP price has had a rollercoaster growth trajectory which was mostly hindered by the US Securities and Exchange Commission (SEC) filing a lawsuit against Ripple. But a lot of the altcoin’s performances over the months have been rather predictable, and with its history, we can get an idea of what to expect for the XRP price this month. October Not Looking Good For XRP Price In a heat map of historical XRP price data generated by NewsBTC, we can see how the month of October has usually gone in the past. The heat map shows XRP’s performance over the last eight years and the figures for....