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October Is The Month For Bitcoin BTC

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Happy new month to you and all our readers! The last one month has been a tumultuous one for any crypto enthusiast, trader or hodler of any digital asset. Most of the days were filled with declining values and panic due to the news. Bitcoin BTC being the King of Crypto and being volatile during the last month, all alt-coins also suffered due to its relative instability.

A Recap Of September FUD and ETF Anxieties

First, there was the Goldman Sachs news of September the 5th that they were ditching plans to open a Bitcoin and Crypto trading desk. The news went to state that the firm was focusing on custody services that will bring the much-needed funds to the industry. In a sense, the news had stated that Goldman Sachs would not pursue digital assets as forms of investments. However, this news turned out to be fake, but the damage had been done.

Secondly, there was an air of anxiety for the SEC was scheduled to rule on the Bitcoin ETF application by CBOE, VanEck, and SolidX, by the 30th of September. However, the authority announced on the 20th of September, that it needed more time to make a decision. They also requested for the input of the public with regards to the rule change in the ETF. This, in turn, pushed the SEC decision to late December.

Thirdly, there was a bunch of Bitcoin futures contracts by the CME expiring on the 28th of September. Therefore, due to the historical past performance of Bitcoin BTC when futures contracts are about to expire, many traders had held back making any major moves for there was uncertainty. Many of the savvy traders headed to BitMex to attempt to short Bitcoin BTC and other digital assets, but Bitcoin proved to have a good support level above $6,500.

What October Holds For Bitcoin BTC

The first good thing about October, other than it being the month of good sports around the world, is that there is no pending major decision from the SEC. A Bitcoin ETF will not hover over the minds of traders as they attempt to make gains in the markets for the next few weeks.

Secondly, October comes before November and when the Bakkt firm is scheduled to launch. This then leaves the crypto space wide open for natural gains without fears of any bad news. Bakkt aims at bringing Bitcoin and crypto investing to the mainstream using existing regulation, rather than trying to change the rules like the pending Bitcoin ETF.

The firm also plans on providing custody services for the institutional investors who want to buy in bulk. Therefore, the challenge of storing large volumes of cryptocurrencies is left to Bakkt which is regulated and has all the necessary licenses.

Given the fact that the US stock market is worth an estimated $30 Trillion, Bakkt will make it possible for cryptocurrencies to bite off a small chunk of this value as investors look for alternative, untapped sources of attaining considerable gains. Bakkt recently tweeted their first investment product as follows:

Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.

In conclusion, and not hating on the month of September, October brings in a breath of fresh air in the crypto markets for there is no reason to be nervous in the markets. But as is always suggested, it is good to set stop losses and keep up to date with news from Global Coin Report.

Check out the Global Coin Report talk show as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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