3 Reasons Your Crypto Investment Is at Risk for the Rest of October 

2022-10-11 18:00

Bitcoin (BTC) and the global crypto market cap have moved in tandem over the last few months as the top cryptocurrency leads larger market momentum. 

The global crypto market has been in a long-drawn downtrend for over 11 months now as Bitcoin, Ethereum (ETH), and most of the top altcoins undergo massive correction.

After Bitcoin’s price made the $69,000 all-time high in Nov. 2021, the larger crypto market has declined in price in tandem with BTC. 

The historic pullback has affected HODLers, traders, and investors as top crypto assets continue to oscillate in proximity with the lower price range.  

October unlikely to offer relief for crypto

Bitcoin, the oldest cryptocurrency with the largest market capitalization of over $368 billion, is often called the king coin of the market, and rightly so. Being a first mover and the top coin, BTC price typically directs the larger market flow unless in an altcoin season, or altseason. 

At press time, BTC price stood at $19,153.35, still oscillating in a tight range below the $20,000 mark. With no major short-term bullish catalysts in sight, Bitcoin price has little to no support in case of a bearish turn. 

BTC price recently dipped below a crucial demand wall around the average price of $19,357 based on Into The Block’s In and Out of Money around the price Indicator. 

Source: Into The Block 

Notably, if BTC price continues to dip, the addresses that are now underwater may be forced to sell, further pushing BTC price lower.

For now, the next significant support for BTC would be at the $16,000 mark. However, a revisit to that lower level could also trigger significant losses for the larger crypto market. 

It’s Bitcoin season, for the time being

In an altseason, investors often expect decent gains from the massive rallies that altcoins present as BTC maintains a calm yet bullish tone. Over the last few weeks, the market has been strongly BTC-led, and an altseason doesn’t seem to be on the cards for crypto investors, according to altseason index. 

Source: Altseason Index

Moreover, with the BTC volatility index dropping to its lowest since Dec. 2020, the exciting volatility that aids sudden price momentum, often fueling short-term gains for altcoins, is also missing in action. 

All in all, with Bitcoin governing larger market momentum as most of the top altcoins presented a high correlation with Bitcoin price, seemingly more sell-offs could await investors.

Additionally, sell-off warnings in the Bitcoin market by analysts are still surfacing, as reported in a previous article.

Thus, Oct. could play out at the mercy of BTC, and with Bitcoin price at crucial crossroads, that could have a cascade effect on top cryptos.

Disclaimer: Be[in]Crypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

The post 3 Reasons Your Crypto Investment Is at Risk for the Rest of October  appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

rest could reasons october your investment crypto

rest could → Результатов: 126


Фото:

SEC vs. Ripple Case To Finally Establish How Much Authority The SEC Has Over Regulating The $2 Trillion Crypto Market

Key takeaways The outcome of the SEC’s lawsuit against Ripple could define the future powers of the commission according to securities experts. The SEC’s regulatory methods have been called out by notable cryptocurrency figures Neither the SEC or Ripple and the rest of the crypto-industry are willing to concede.

2021-9-22 22:53


The Bearish Bitcoin Chart Bulls Definitely Don’t Want To See

Bitcoin price today set a new all-time high, and tomorrow Coinbase goes public putting an even bigger spotlight on the already buzzing cryptocurrency industry. Things couldn’t possibly look more bullish for Bitcoin and the rest of the market, but the recent price action could resemble one market wizard’s schematic of what “distribution” should look like. […]

2021-4-14 04:00


Фото:

Chainlink Could Rocket Higher if It Breaks Above One Key Level

Chainlink has been underperforming Bitcoin and the aggregated crypto market as of late, with its price action largely mirroring that of the rest of the altcoin market. While Bitcoin captures investors’ attention with its massive uptrend, major altcoins like Ethereum and LINK have been underperforming, facing inflows of selling pressure as traders chase the BTC […]

2020-12-19 02:00


Ethereum’s Rebound is “Getting Tired” as Analyst Eyes Move to $520

Ethereum has been climbing higher today alongside Bitcoin and the rest of the crypto market The strength seen as of late comes as Bitcoin puts some serious distance between its recent lows and its current price levels This indicates that bulls are in full control and are looking to form a “V-shaped” recovery that could allow for significantly further upside in the days and weeks ahead Where the entire market trends next will depend largely […]

2020-11-30 22:00


Фото:

Ethereum Could Target $850 Once It Breaks Key Resistance, Claims Analyst

Ethereum has flashed signs of immense strength despite a fleeting overnight selloff This recent decline came about in tandem with that seen by the rest of the crypto market Bitcoin plunged below $18,000 before posting a “V-shaped” recovery and rallying significantly higher This recovery also helped lead ETH higher, with the cryptocurrency rapidly navigating back up to where it has been trading throughout the past couple of days Its recent strength and unwavering uptrend indicate […]

2020-11-23 01:00


A “TD9” Sell Indicator Triggers For XRP After 6 Weeks of Stagnance

XRP continues to lag behind the rest of the market after a short-lived glimmer of hope brought prices to current levels in late July. And while crypto analysts expect the fourth-ranked cryptocurrency to outperform Bitcoin and Ethereum eventually, a sell setup has triggered on daily timeframes that could send Ripple ripping lower. TD 9 Sell […]

2020-10-13 00:00


Фото:

Bitcoin Just Hit a Crucial Trendline; Analysts Expect Imminent Fireworks

Bitcoin and the rest of the crypto market has witnessed some bear-favoring volatility throughout the past few hours This came about following a day of relative stability yesterday, and it appears that Ethereum’s potent decline is creating headwinds for the rest of the market BTC is now trending down near a crucial support level that coincides with a key trendline Analysts believe that a continued bout of trading above this level could be all that […]

2020-8-22 21:00


Same Indicator That Called March Plunge Raises Chances For Big Bitcoin Drop

Bitcoin has been rocketing over the last several weeks, along with the rest of the cryptocurrency market. Most assets are up over 80% on average since the start of 2020. However, an unorthodox and unusual financial forecasting tool could indicate that a major trend change is playing out across markets, with the turning point taking […]

2020-8-19 04:00


Фото:

How Will The Upcoming US Election Impact Bitcoin’s Price Performance This Year?

The pandemic-fueled market crash of March didn’t spare bitcoin or the rest of the crypto market, but in retrospect, it could be considered a good thing. The crash created a turning point, which later accelerated Bitcoin’s adoption, establishing it as an uncorrelated asset, with recognition even from top critics like gold investor Peter Schiff. Earlier […]

2020-7-15 11:04


Volume Precedes Price: Why an Unexpected Altcoin Crash Could Surprise Crypto Investors

Top financial market analysts often live and die by the mantra that volume always precedes price, and the same is true for crypto assets like Bitcoin and the rest of the altcoin market. An indicator designed to spot early changes in volume may be signaling that although altcoins are rallying across the greater crypto market,... The post appeared first on NewsBTC.

2020-1-24 20:00


The Fate of Bitcoin in 2020 Could Rest on How it Responds to This Key Price Region

Yesterday was a wild day for Bitcoin, with the cryptocurrency surging well over 5% to highs of just below $8,000 before it met some insurmountable resistance that slowed this rally. It is important to note that BTC has been able to maintain all of its recent gains in the time since this rally first occurred.... The post appeared first on NewsBTC.

2020-1-7 22:00