Why Are Bitcoin Whales Accumulating BTC? See the market report
On this week’s The Market Report show, Cointelegraph’s resident experts discuss why Bitcoin (BTC) whales are accumulating right now and why this could matter. Could this lead to the next bull run?
To kick things off, we’re sharing the latest news on the markets this week:
Least Volatile ‘Uptober’ Ever – 5 Things to Know in Bitcoin This Week
October 2022 has yet to prove itself as analysts predict ‘wild’ Bitcoin price volatility for November. Bitcoin has started the last week of “Uptober” in a firm average mood as the trade area to end all trade areas continues to hold. Could this mean that a major trend change is about to happen? This week is shaping up to be another important week with the release of the US Personal Consumption Expenditure (PCE) index for September. The following week, the US Federal Reserve will meet to decide on rate hikes based on specific data inputs, including PCE and the Consumer Price Index. The market is currently expecting another 75 basis point increase, but what will the actual numbers be and how will they affect the market?
What happened to all the hype surrounding “Uptober?” So far, it has failed to deliver compared to October 2021. Some analysts are hoping for a dramatic turnaround in November, but Bitcoin has its work cut out for it if it is going to reach anywhere near its previous all-time high.
Bitcoin Will Rise in 2023 — But Be Careful What You Wish For
The Bitcoin community is divided on whether the token’s price will rise or crash in the coming year. A majority of analysts and technical indicators suggest that it could bottom between $12,000 and $16,000 in the coming months. This correlates with a volatile macroeconomic environment, stock prices, inflation, federal data and, at least according to Elon Musk, a possible recession that could last until 2024. Meanwhile, influencers, BTC maximalists and a host of other fanatical “shills” are maintaining their price can skyrocket to $80,000 and more. There is evidence to support both sides. We discuss what the next year may bring for Bitcoin.
Our experts cover these and other developing stories, so make sure you tune in to stay up-to-date on the latest in the crypto world.
Next up is a segment called “Quick Crypto Tips,” which aims to provide newcomers to the crypto industry with quick and easy tips to get the most out of their experience. Tip of the week: Moving average.
Finally, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week, so be sure to tune in to find out.
Have a question about a coin or a topic not covered here? Do not worry. Join the YouTube chat room and post your questions there. The person with the most interesting comment or question will have a chance to win a one-month subscription to Markets pro.
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