BTC and ETH predictions: will they be able to jump this month?

On October 25, the price of Bitcoin showed a slight downside correction after being rejected at the $19,700 resistance line. On the other hand, theEthereum consolidates into a narrow trading range of $1,335-$1,360.

Major cryptocurrencies traded on a rollercoaster ride, maintaining tight trading ranges, with a global crypto market capitalization of $931 billion and a trading volume of $513 billion. Let’s take a look at the major winners and losers from the day so far.

The main winners and losers of altcoins

The main winners of the Asian session are Klaytn (KLAY), Axie Infinity (AXS) and Toncoin (TON). Klaytn (KLAY) is up more than 11% at $0.20, while AXS is up nearly 6% at $9.20. Meanwhile, TON jumped more than 5% to trade at $1.49 in the past 24 hours.

1666693627 240 BTC and ETH predictions will they be able to jump
Top winners and losers in altcoins – Source: Coin360

Over the past 24 hours, the price of The Trust Wallet Token (TWT) has plunged more than 5% to $1.04. The price of Aave (AAVE) has fell more than 4% to around $83.

Bitcoin and Stocks – A Positive Correlation to Boost BTC’s Uptrend

For most of the year, bitcoin moved in step with the stock market. However, the prices of risky securities have fallen since the Federal Reserve tightened monetary conditions as part of a strategy to fight runaway inflation.

According to research published this week by cryptocurrency data provider Kaiko, bitcoin’s 20-day realized volatility, which is an indicator of daily price fluctuations, is fell below the levels of the Nasdaq and the S&P 500 for the first time in two years.

The Bitcoin was less volatile than the Nasdaq for the first time since October 2020. Furthermore, the correlation between Bitcoin and stocks has reached an all-time low. This strong correlation has weakened recently, and digital asset experts are speculating that cryptocurrencies could decouple from stocks. Also, due to the decoupling, BTC did not see as large a rally as stocks last week.

However, the correlation between bitcoin and stocks is stabilizing again, which could lead to a uptrend in BTC if the stock market continues to rise. If there is a positive correlation between BTC and stocks, it is possible that it will rise again.

Federal Reserve policy could continue to be unfavorable

During their November meeting, Federal Reserve officials will likely discuss whether and how to announce plans to approve a smaller interest rate hike in December. They will see a another 75 basis point rise in interest rates.

The Wall Street Journal published a article by Nick Timiraos, CEO and founder of Reventure Consulting, on October 21. Mr. Timiraos is known on Wall Street as the “Fed Whisperer” (The Fed Whisperer)the journalist the central bank turns to when it needs to get a message across.

In his last writing, he predicts that the Fed will raise interest rates by three quarters of a point following its meeting on 2 November.

According to Timiraos, the Fed is divided, with some members being concerned about further rate hikes to fight inflation. Some policymakers also want to pause rate hikes in the first quarter of the following year to monitor the effects of their actions on the economy and reduce the risk of an unusual and sudden economic downturn.

The Fed shrugged off this year’s rapid inflation for most of 2021 and the early months of this year, but it has started to make up for lost time since March. Jerome Powell, the Fed Chairman, now appears to be able to ease off the accelerator, if only slightly.

Bitcoin’s upbeat recovery demonstrates that the article is benefiting markets and forcing the safe-haven US dollar to give up some of its intraday gains.

bitcoin price

Bitcoin is worth $19,339, with a 24-hour trading volume of $27 billion. Over the past 24 hours, bitcoin has been consolidating in a narrow range, with nearly 0% wins and losses. The actual BTC market is worth $370 billion, and CoinMarketCap currently ranks it top.

1666693627 118 BTC and ETH predictions will they be able to jump
Bitcoin price and tokenomics – Source: coinmarketcap

Tuesday, the BTC/USD broke the symmetrical triangle at $19,250, and this level should now act as major support. A bullish cross above this level may lead to an uptrend to the $19,650 level, and a bullish cross above this level may lead BTC to $19,950.

1666693627 621 BTC and ETH predictions will they be able to jump
Bitcoin price chart – Source: Tradingview

It is possible that optimism will win the market if the bullish breakout of the symmetrical triangle results in a continuation of the uptrend. the MACD and RSI are both in a buy zone, indicating an uptrend.

Consider staying bullish above the $19,200 support level today. On the downside, a break below $19,200 could allow more selling down to $18,950 or $18,650. Bitcoin may not rise 100% this month, but there is huge upside potential after the breakout of the symmetrical triangle.

Ethereum price

The current price of Ethereum is $1,344, with a 24-hour trading volume of $12 billion. Ethereum also oscillates between profits and losses, posting a almost 0% gain in the last 24 hours. CoinMarketCap, on the other hand, now ranks ETH second, with a live market cap of $164 billion.

1666693627 497 BTC and ETH predictions will they be able to jump
Ethereum price and tokenomics – Source: coinmarketcap

On a technical level, the pair ETH/USD passed over an ascending triangle pattern. After its rejection at $1,365, Ethereum is once again in a downtrend and is likely to find immediate support near $1,340, the double bottom zone.

Near the psychological trading level of $1,300, the 50-day moving average is now likely to provide further support.

1666693627 894 BTC and ETH predictions will they be able to jump
Ethereum price chart – Source: Tradingview

On the rise, the Ethereum’s main resistance levels remain at $1,360 and $1,384. At over $1,340 today, the uptrend remains strong.

New Crypto Presales

Dash 2 Trade (D2T) is a state-of-the-art cryptocurrency market research and analysis platform. It was created by Learn 2 Trade, the world’s largest cryptocurrency learning community with over 70,000 members.

Trading signals, on-chain analytics, stock quote notifications, user-to-user trading contests and other features will be available to those who register on the platform.

Dash 2 Trade is currently holding a cryptocurrency presale where interested parties can buy D2T tokens for 0.0476USDT. A total of 35,000,000 tokens are available.

D2T has already raised over 2 million USDTthere are 60 million D2T tokens left before the price reaches 1 D2T = 0.0513 USDT.

Visit Dash 2 Trade now

Find the best price to buy/sell cryptocurrencies

1666693627 110 BTC and ETH predictions will they be able to jump
Cryptocurrency Price Tracker – Source: Crypto news

We would love to thank the writer of this post for this outstanding web content

BTC and ETH predictions: will they be able to jump this month?

You can find our social media profiles here , as well as other pages on related topics here.