Will Bitcoin consolidate the successes of the first days of October 2022?

Cryptocurrency has recently been one of the most discussed topics. But today everything has changed somewhat. The recent severe fall in Bitcoin has hit the reputation of all digital coins hard. Trust is lost, but not completely. Those who understand the topic or are at least interested in the news still hold out hope for the revival of Bitcoin and its approach to the coveted $100,000 per coin. This is quite possible, but what about today? We'll tell you what awaits the Bitcoin exchange rate in October, and what you can expect from the behavior of the chart in the future.

Some general information to get you started

It is predicted that most readers do not fully understand what cryptocurrency is, how it works and why it is needed at all. Therefore, first, let’s talk about the mechanics of how Bitcoin works.

This coin, limited in quantity, is one of the electronic means of payment. Essentially, it is logical code in a computer that has a certain value. In the process of circulation of money, a special cryptographic signature is used, which is simply impossible to forge.

Such money can only exist in electronic format. They have no expression, they are not provided with anything. The method of occurrence is also electronic – mining. It literally appears from the Internet as a reward for the computing power provided by the owner of his PC or farm.

What’s interesting is that absolutely anyone can issue cryptocurrency. It turns out that each participant, miner, and forger is an issuer. Cryptocurrency is not exposed to the banking sector. It is also limited in quantity; only 21 million coins can exist. The currency is not subject to inflation; no one will be able to print additional funds even if they wanted to.

Factors contributing to the growth of Bitcoin quotes

It is important to note the fact that in addition to the factors that impede the growth of the described digital coins, there are a number of factors that contribute to an increase in their quotations.

Among the factors that positively influence the increase in the value of the described digital coins, the following deserve special mention:

1. Recognition of Bitcoin as a full-fledged means of payment in some countries. Currently, the legalization of the described digital coins has occurred only in some countries, such as Switzerland. In this country there are even specialized machines, using which you can easily exchange Bitcoin for regular currencies. After the legalization of Bitcoin in Switzerland, there was a significant increase in its quotations, so its acceptance in other countries may also cause a serious increase in the value of coins. Some experts argue that there is a high probability that by 2022 the domestic government will recognize Bitcoin as a means of payment.
2. A constant increase in interest in the described digital currency. Interest in Bitcoin is constantly increasing, due to which the number of investors who invest their existing capital in the described digital coins is growing significantly. Thus, due to the increase in demand for Bitcoin, there is a constant increase in quotations.
3. Gradual reduction in the production of new coins. The fact that the number of mined coins is decreasing annually, the last Bitcoin, according to expert calculations, will be mined in 2030, which will cause a gradual increase in the quotes of this cryptocurrency. Most experts agree that the growth in quotations will occur in parallel with a decrease in coin production, and by 2030 the cost of one Bitcoin will be very high.

Why do people buy or create Bitcoins?

There are many reasons, and they all stem from a certain benefit for the owner of such coins. The following list includes 10 reasons why people are interested in and use Bitcoin.

1. Every day the currency becomes more and more stable and not subject to fluctuations in volatility from major players. It will soon become as big and valuable as any other national currency. There will be absolutely no influence on her. Surprisingly, today Bitcoin is more stable than even gold!
2. The global economy is not very stable, and people continue to look for ways to save their money. One of the most reliable is Bitcoin. He does not depend on the political and economic situation, he is always aloof from world events. Even if the entire economy in the world collapses, Bitcoin will not lose ground, but will only increase it.
3. Gradually, the rate of creation of new coins is decreasing. As mentioned above, there can only be 21 million coins. The currency is not subject to inflation, for this reason it will never be devalued.
4. At the moment, the Bitcoin exchange rate and forecasting results look very optimistic. In the future, we can expect strong growth of the coin. It will grow with the increase in the number of participants in the market. At the moment, no more than 3% of people actually use digital money to one degree or another. When the market is crowded, it will no longer be possible to profit.
5. Bitcoin gives us hope for a complete elimination of metal and paper money. Paying will soon become much more convenient.
6. Bitcoin technology is gradually gaining momentum. More and more services are enabling the ability to pay for goods and services in this currency. The mark of 110,000 operations per day has already been broken.
7. High speed of transactions. A recipient on another continent will receive the transfer in a matter of minutes.
8. Possibility of dividing a coin into ultra-small shares. You can buy a lot for 1 bitcoin, but you won’t be willing to pay a whole coin for everything. Fortunately, division into ultra-small shares is provided, so that in the future you can even pay with bitcoins at the grocery store.
9. Destruction of Bitcoin is generally impossible. This is a decentralized payment system that is not controlled by anyone. Banks, states and people themselves cannot influence the coin.
10. Long-term growth is fueled by positive market sentiment towards all cryptocurrencies.

This is why more and more people want to invest in Bitcoin and make a profit in the short or long term. But what to do now?

What factors influence the price of BTC in 2022

The fall of Bitcoin and the entire crypto market provides an opportunity for crypto investors to buy assets at low prices in order to significantly increase their capital. But in order to objectively assess the prospects, it is necessary to analyze the factors influencing the cost of BTC.

What puts pressure on Bitcoin and the crypto market:

• in January-February 2022, over 35,000 BTC were sold by large participants, which caused a sharp decline in price;
• in March 2022, several crypto exchanges were hacked, which caused a commotion among cryptocurrency holders and led to a drop in BTC to 9 thousand USD;
• in June, many crypto exchanges began to implement KYC policies, forcing clients to provide personal information about themselves, which is why the attractiveness of BTC and its price decreased significantly;
• The crypto market was damaged by the statement of the Chinese government, which banned the activities of mining companies;
• in June, hackers hacked a large crypto exchange, stealing over 37 million USD, which increased unrest among holders;
• in the summer, futures purchased in December 2017 expired;
• Many crypto investors transferred digital assets to fiat during the holidays.

What does BTC and the crypto market support:

• Canada refused to tax income from cryptocurrencies;
• in Germany, digital assets were recognized as legal financial instruments;
• in Australia, BTC is sold in almost every corner, making virtual currency accessible to the masses;
• China is considering the possibility of legalizing cryptocurrencies;
• a fund was opened in the USA to raise funds in BTC;
• Commercial giant Amazon announced its decision to add bitcoins as a means of payment.

What should we expect in the near future?

The Bitcoin price currently does not inspire hope. 2022 ended badly for this coin. And the chart continues its downward trend against the backdrop of the general mood. This trend is gradually fading, however, it is not yet time to buy in summer. According to experts, the rate could drop to $6,500 per coin and even lower. Wait a moment to sell your cryptocurrency.

At the same time, the Bitcoin forecast for October 2022 looks very optimistic. Approximately, from September 2022 there will be rapid growth. In October the increase will be about 16%. The price will be fixed at $7500-7600 per coin. Already a good, albeit not ideal, result.

Growth will continue in the future. In the long term, Bitcoin will exceed $10,000 in 2022, and this is already very profitable for sale. Many experts are confident that the course will not stop there. A positive trend will almost always prevail in the market until 2022, according to the most optimistic forecasts. And there it will reach $45,000.

Miners can calm down after a powerful chart failure. Soon enough, the situation will stabilize and the cryptocurrency will again gain its value, and even exceed it. Thus, you have no reason to put your equipment up for sale; you will still need it, and it is better to use it. But it is not recommended to buy a new one until you are sure that it will be profitable.

Traders can also breathe easy; periods of intense volatility are behind us for now. But it is possible that the scalping of the end of 2022 will be repeated. Sooner or later, the market will again be overcrowded with inexperienced investors, and a large chain of sales will follow, which again could lead to a serious collapse of Bitcoin. You simply need to see when the market is overheating in order to put Bitcoin up for sale in time. Carefully follow the news and schedule so as not to miss the moment.

Investors can invest safely, they will not lose in the long term, they will be able not only to save their money, but also to increase it. If you are worried about your savings, you can entrust them to the world of cryptocurrencies, invest them in Bitcoin or lesser-known coins.

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Bitcoin and Wycoff accumulation - BTC began to rise to $65,000

Globally, Bitcoin is repeating the “Wyckoff accumulation” and has now entered a growth phase.

More details about Bitcoin are repeated by Wycoff accumulation, read here: https://ru-crypto.com/prognoz-kursa-bitkoina-btc-s-17-po-19-sentyabrya-bitcoin-povtoryaet-wycoff-accumulation.

Source: Ru-crypto

Kenneth Rogoff: “Bitcoin will fall to $100”

Leading economist at the International Monetary Fund, Kenneth Rogoff, is known for his pessimism about Bitcoin. He stated: “I think BTC will be worth a lot less than it is now. The figure of $100 by the end of this year sounds much more plausible than $100,000.”

Kenneth believes that cryptocurrency activists need to cool down and face the truth, and the truth in his understanding is very sad

Rogoff's prediction is based on his belief that governments will move against virtual currencies, and regulations banning the use of Bitcoin will serve as the needle that pokes the bubble.

Finder.com: "Bitcoin will be worth $43,000 by the end of December 2018"

Finder.com staff surveyed 13 cryptocurrency experts and came to the conclusion that the BTC rate will reach $43,000 by the end of the year.

Finder.com CEO John Ostlek says, “Our survey participants believe the leading cryptocurrency's recent decline is nothing more than a pothole in the road.” BTC will regain its position and continue to gain momentum.”

Ostler also noted that the forecast results are not 100% true, since it is impossible to predict the influence of external factors, such as the adoption of a new regulatory framework and changes in the banking system.

Summarize

• Analysts at Cryptoquant, PlanB, Wolf All Street traders and many popular bloggers speak for the beginning of Bitcoin growth.
• The decrease in available stablecoins indicates their flow into cryptocurrency.
• Daily and weekly indicators Macd, Rsi and popular indicators: HashRibbons, EMA Ribbons speak for the long.
• The level of fear and greed are in the neutral zone.
• Bitcoin formed a golden cross on the daily chart, long.
• Technical analysis speaks for the long - Bitcoin has formed a bullish flag.
• The Wyckoff accumulation model says that the fall is over and growth has begun.
• The whales bought the fall: Microstrategy, weak hands sold.
• There is no negative news.

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