No Result
View All Result
World Press Time
  • Home
  • United States
  • UK
  • World
    • Canada
    • Europe
    • Australia
    • Asia
    • South America
    • Africa
  • Politics
  • Business
    • Economy
    • Finance
    • Investing
    • Markets
    • Companies
    • Crypto
  • Lifestyle
  • Entertainment
  • Health
  • Technology
  • Science
  • Sports
  • Travel
  • Contact
Subscribe
  • Login
  • Home
  • United States
  • UK
  • World
    • Canada
    • Europe
    • Australia
    • Asia
    • South America
    • Africa
  • Politics
  • Business
    • Economy
    • Finance
    • Investing
    • Markets
    • Companies
    • Crypto
  • Lifestyle
  • Entertainment
  • Health
  • Technology
  • Science
  • Sports
  • Travel
  • Contact
No Result
View All Result
World Press Time
No Result
View All Result
  • United States
  • UK
  • World
  • Politics
  • Business
  • Lifestyle
  • Entertainment
  • Health
  • Technology
  • Science
  • Sports
  • Travel
  • Videos
Home Business Crypto

Bitcoin Price Prediction – Can BTC Pump Again?

Press Room by Press Room
7 months ago
in Crypto
Reading Time: 3 mins read
118 9
A A
0
34
SHARES
489
VIEWS
Share on FacebookShare on Twitter

During the European session, Bitcoin price is trading choppy near $20,350, struggling below the 61.8% Fibonacci retracement level of $21,000. The buyer-seller tug of war continues ahead of the FOMC and Fed Fund rate decision on November 2. As a result, it keeps volatility in check.

Fed Rate Hike On The Way 

The US inflation is still running at its strongest pace in nearly 40 years, so the Federal Reserve is expected to hike interest rates for the sixth straight week this week.

Since March, the Federal Reserve has raised its benchmark short-term rate a total of 3 percentage points, with the most recent rise being 0.75 percentage points.

As the debate over when to turn to smaller interest rate hikes to prevent plunging the world’s largest economy into a tailspin heats up, central bankers in the United States are poised to keep their inflation war in high gear this week.

The Federal Reserve’s preferred measure of inflation is currently running at more than three times its 2% target, so the outcome of the Fed’s policy meeting on Tuesday and Wednesday is certain: the Fed will raise rates by three quarters of a percentage point for the fourth time in a row, bringing the target overnight lending rate to a range of 3.75%-4.00%.

The rate hike may not matter much on November 2 because most of it has already been priced in. The FOMC statement and press conference will be key in determining the pace of future rate hikes.

Bitcoin Price Prediction – Can BTC Pump Again?

Bitcoin is currently worth $20,391, with a 24-hour trading volume of 44 billion. Bitcoin has increased by more than 5% in the last seven days. CoinMarketCap is currently first, with a live market capitalization of $391 billion, down from $393 billion during the Asian session.

The BTC/USD pair continues to consolidate in a large trading range of $20,000 to $21,000, with Fibonacci retracement levels ranging from 38.2% to 61.8%. The general trading situation, though, remains positive.

The RSI and MACD remain bullish, indicating that the uptrend is likely to continue. Additionally, the 50-day moving average advises purchasing above $19,700.

As a result, a break of the 61.8% Fibo barrier ($21,000) might extend the buying trend to $21,900. Bitcoin might hit $22,500 if the present upward trend continues. On the downside, Bitcoin’s immediate support level remains close to $20,250. 

Today, if a bullish breakout of $21,000 occurs, investors may look to purchase. Whereas, a break below $19,950 can drive selling until $19,000 mark.

Top Coin Alternative – Dash 2 Trade 

There are a number of fresh altcoins that have been outperforming the market in recent weeks, with presale tokens proving particularly rewarding for traders who may not be able to wait a few more months for huge returns. 

Dash 2 Trade, a crypto analytics and intelligence platform for traders and investors, is currently holding a promising pre-sale. The best way to describe it is as the equivalent of a Bloomberg terminal for people who are interested in cryptocurrencies.

D2T has attracted the interest of crypto investors all across the world, raising over $3.6 million in just over a week during its presale. Pre-sales have been booming recently, and D2T is in a great position to keep the good times rolling.

Visit Dash 2 Trade now

Find The Best Price to Buy/Sell Cryptocurrency

 



Read the full article here

Share14Tweet9Share2Pin3SendShareShareShareShare
ADVERTISEMENT

Related Articles

Crypto

Russian Government Switching Gears — No Longer Plans To Create a National Crypto Exchange

Crypto

A New Era of Gaming Begins

Crypto

Swapin Wins People’s Choice Award at MasterCard Lighthouse FINITIV Spring 2023 Program

Crypto

Sony Announces Plans to Back Web3, NFT Startups

Crypto

Bank of Japan Releases CBDC Report and Launched Its Pilot Program As Other Countries Gain Steam

Crypto

Which Crypto Will Give 1000% Gains in 2023?

Crypto

BTC and ETH Poised for 50% Retracement; Brief Market Analysis

Crypto

Kava Token Price Pumped 41% in May, Analysts Predict This Little Known Crypto is Next to Rise – Find Out Why

Crypto

Stricter Measures Implemented to Restrict Foreign Tourists from Using Cryptocurrency as Payment

Load More

Recommended

Little-known virus is an underestimated threat, say experts. Here’s how to keep safe from HMPV.

Mum ran off pier after becoming ‘freaked out’ by eerie feeling in seaside town

Italy's Mount Etna volcano spewing smoke and ash in new eruption

THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

Subscribe to our mailing list to receives daily updates direct to your inbox!

Trending Now

    About Us

    World Press Time

    World Press Time is your one-stop news portal, follow us to get the latest politic, business, sports, entertainment any more. follow us now.

    Topics

    Africa Asia Australia Business Canada Companies Crypto Economy Entertainment Europe Finance Health Investing Lifestyle Markets Politics Science South America Sports Technology Travel United Kingdom United States Videos World

    Get informed

    THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

    Subscribe to our mailing list to receives daily updates direct to your inbox!

    • Privacy Policy
    • Terms of use
    • Press Release
    • Advertise
    • Contact

    © 2022 World Press Time - All Rights Reserved.

    No Result
    View All Result
    • Home
    • United States
    • UK
    • World
      • Canada
      • Europe
      • Australia
      • Asia
      • South America
      • Africa
    • Politics
    • Business
      • Economy
      • Finance
      • Investing
      • Markets
      • Companies
      • Crypto
    • Lifestyle
    • Entertainment
    • Health
    • Technology
    • Science
    • Sports
    • Travel
    • Contact

    © 2022 World Press Time - All Rights Reserved.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website, you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.