The fluctuating price behavior of Bitcoin (BTC) continues to play havoc with traders’ and investors’ sentiments. Traders are still making predictions about what Bitcoin (BTC) will do in the upcoming month of October. According to a well-known crypto analyst, the fourth quarter of the year may see rallies in the cryptocurrency markets.
The host of InvestAnswers said in a recent debate with fellow analysts Benjamin Cowen and Mike at Digital Asset News that several fundamental factors currently stand in favor of the bitcoin and crypto markets.
He said that inflation is falling, given the current state of demand destruction, it must be happening rather quickly. Over the next two to three months, we’re going to see some nice CPI (consumer price index) prints.
markets are falling
He is watching how the credit markets are just turning around after this week’s UK blink and Germany’s splash.
He said that the DXY (US dollar index) will be under pressure due to China’s very obvious intention to unload the remaining trillion dollars in treasuries as soon as possible, which should support some of the other emerging market currencies.
“Markets are definitely down. [For the S&P 500], 3,500 point basis for a floor, is my take on an upwards of 4,800 points within six to 12 months. And there’s a lot of cash on the side. $3 trillion waiting to be deployed. if the war stopped [between Russia and Ukraine]That game would be… in terms of the Fed, they talk a big game, they jaw a lot, but do they bite? ,
The analyst also said that October is often known, like “Uptober” and “Moonvember.” He anticipates success, particularly now that individuals are seeking for a hedge after realizing how badly their native currencies are performing. Simply deploying 1% or 2% of assets has a significant impact on Bitcoin, thus I anticipate a strong fourth quarter from here.
