Analytics / Forex and Crypto News
Since the end of September, there have been no changes in the cryptocurrency market. Volatility remains very weak, as evidenced by the price of Bitcoin, which has been trading in the range of $7800-8500 for a month.
We observed an increase in volatility on September 24 when Bitcoin fell from $9,670 to $8,560.
Then, until today, BTC only once attempted to make a breakthrough, reaching $8,608 on crypto exchanges. However, at this level, the coin could not resist and then resumed its fall.
Today, October 22, Bitcoin rose slightly to $8,275, the market capitalization is just over $149.072 billion.
Note that the Bitcoin dominance index continues to decline, now it is 66.5%, although only on the eve this indicator was at 66.7%.
As trader Josh Rager notes, BTC is gripped in the trading range. The growth of volatility is possible if resistance is overcome in the next few days.
Now it’s difficult to predict which direction the coin will begin to move after the activation of investors. It is possible that instead of a rally, we will see the descending of the BTC rate.
It’s also necessary to look at the behavior of large market players or the so-called “crypto whales”, which periodically provoke the strengthening or weakening of the Bitcoin exchange rate.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov