empty
26.10.2022 02:40 PM
Crypto market gives positive signals for growth

For almost all of October, Bitcoin and Ethereum moved in a characteristic lateral amplitude, which became a kind of prerequisite that there may be a change in trading interests in the market.

It is worth noting that in the same period of time, US stock indices initially showed an active downward trend, which led to updates of local low of the downward cycle from mid-August. In this case, there is an interesting phenomenon that cryptocurrencies have been declining more slowly than the stock market. Do not rejoice prematurely, cryptocurrencies collapsed in vain early in the period of August and September.

Change of trading interests

Here things are like this, the US stock indices slowed down the decline around October 12–13, after which a characteristic reversal occurred. As a result, the average growth of the index from the local low was about 10%.

In this case, riskier assets, in our case, cryptocurrencies, played with a delay of about one week. We will analyze the details of the growth of BTC and ETH a little later.

What is the reason for the change in trade interests?

To a greater extent, this is due to the hopes of investors that the Fed will give the market positive signals that they will slow down the rate of increase in the refinancing rate at the November 2 meeting. There is also a growing speculation among economic experts that regulators won't last long without a printing press. Perhaps as early as 2023 we will see a quantitative easing program again.

This image is no longer relevant

What happens on the trading charts of Bitcoin and Ethereum?

General picture of the market:

• 130 days without updating the low of the downward trend of BTC and ETH

• 348 days of global downward trend in the cryptocurrency market

• 14% growth in BTC from the local low on October 13

• 30% increase in ETH from the local low on October 13th

• +13 points added Crypto Fear & Greed Index from relative stagnation in October

• +$113 billion to capitalization from the local low on October 13

Bitcoin Growth Details

Although the downward trend ended around October 13, this value is $18,130, the main upward movement appeared only from October 25. On this day, the first cryptocurrency strengthened in value by 3.9%, setting the pace for buyers. On October 26, the upward cycle was extended to new levels, as a result of which the stagnation in October completed its formation, and the quote again turned out to be above the psychological level of $20,000.

Whether this local upward trend will signal the end of the downward trend, time will tell. While it is too early to draw such conclusions, recall that back in mid-August, the quote already gave hope for a change in trend, but everything ended not in the best way.

Now it is worth closely monitoring the monetary policy of the leading economies, as they will indicate the subsequent path of financial markets.

Ethereum Growth Details

The second largest cryptocurrency, Ethereum, has had similar cycles. On October 13, the local low of October at $1,190 was marked, and on October 25, the main jump in the activity of long positions appeared. As a result, the ETH quote strengthened in value by 8.64% in just a day. After that, the growth continued, where the stagnation of October was left behind, and the quote confidently overcame the level of $1,500.

Expectations for Bitcoin and Ethereum

As has been said many times, everything will depend on the policy of central banks, in particular, it is worth paying special attention to the Fed meetings in November and December. Perhaps bullish signals will appear soon.

Outlook

Based on a favorable forecast, Bitcoin growth may accelerate. The first benchmark is the $25,000 level area. In the event of its breakdown, the quote may well rush to $30,000 and possibly even higher. This will be the very long-awaited moment of the trend change.

For Ethereum, everything is similar, if the first cryptocurrency grows, then the entire crypto market will move to growth.

This image is no longer relevant

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

La Ley sobre los stablecoins GENIUS cobra nueva vida

Mientras el Bitcoin corrige sin lograr actualizar su máximo histórico, el Senado de EE.UU. votó con 68 votos a favor y 30 en contra la adopción

Jakub Novak 12:11 2025-06-12 UTC+2

Recomendaciones para operar con el Bitcoin para el 11 de junio según el sistema ICT.

La corrección terminó sin apenas comenzar. El Bitcoin lleva seis días consecutivos creciendo vertiginosamente y ha vuelto a sus máximos históricos. Este movimiento estuvo precedido por al menos dos patrones

Paolo Greco 07:53 2025-06-11 UTC+2

El Bitcoin vuelve a subir, y hay razones para ello

El Bitcoin ha vuelto al crecimiento, arrastrando consigo a otros activos del mercado de criptomonedas. El repunte de hoy durante la sesión asiática indica claramente una ruptura de niveles técnicos

Jakub Novak 13:08 2025-06-10 UTC+2

Recomendaciones para operar con el Bitcoin el 10 de junio según el sistema ICT

La corrección terminó sin siquiera haber comenzado. Por quinto día consecutivo, el Bitcoin sube como la espuma. Este movimiento fue precedido por al menos dos patrones "alcistas" en el marco

Paolo Greco 08:05 2025-06-10 UTC+2

El Bitcoin se balancea en el límite

La presión sobre el Bitcoin está regresando gradualmente, ya que la incapacidad repetida de superar el nivel de $106 000 indica que todo el crecimiento reciente tuvo un carácter

Jakub Novak 08:31 2025-06-09 UTC+2

Recomendaciones para operar con el Bitcoin el 9 de junio según el sistema ICT.

El Bitcoin continúa una corrección bajista tras la retirada de liquidez desde su último ATH, que todos habían estado esperando durante tanto tiempo. La retirada de liquidez desde el último

Paolo Greco 07:42 2025-06-09 UTC+2

Análisis del par BTC/USD. El 4 de junio. El Bitcoin podría finalizar su crecimiento

El conteo de ondas en el gráfico de 4 horas para el instrumento BTC/USD se ha complicado. Observamos una estructura correctiva bajista que finalizó su formación alrededor del nivel

Chin Zhao 07:42 2025-06-04 UTC+2

Recomendaciones para operar con el Bitcoin el 4 de junio según el sistema ICT

El Bitcoin finalmente comenzó una corrección bajista después de la retirada de liquidez desde su último ATH. La retirada de liquidez desde el último ATH puede significar no solo

Paolo Greco 07:42 2025-06-04 UTC+2

Recomendaciones para operar con el Bitcoin el 3 de junio según el sistema ICT.

El Bitcoin finalmente comenzó una corrección bajista después de retirar liquidez de su último ATH. La retirada de liquidez del último ATH puede significar no solo un retroceso, sino

Paolo Greco 07:22 2025-06-03 UTC+2

Las perspectivas técnicas de crecimiento de el Bitcoin son bastante buenas

El Bitcoin tocó fondo en la zona de los $104 000 y en los primeros días de junio se negocia a un precio cercano a los $104 500. Es evidente

Jakub Novak 13:27 2025-06-02 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.