The Most Realistic Bitcoin Price Prediction for October 2020 | MUST WATCH Bitcoin Prediction
October was the best month for bitcoin in 2020
- October marks a record month for bulls in 2020
- Cryptocurrency has already reached a maximum in January 2018
- Decentralized finance market has had its worst month
The price of the bitcoin cryptocurrency has soared by more than 20% since the beginning of October, which was the best indicator since the March collapse
The beginning of the IV quarter was the most successful for Bitcoin in the entire 2020. Since October, the price of bitcoin has risen by more than 20%, showing the highest result since the March crisis. Recall that then the price of the largest cryptocurrency in terms of capitalization fell to an annual minimum of $ 4400.
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It is noteworthy that according to the estimates of the analysts of the CoinGecko resource, the growth in the capitalization of stablecoins in October decreased compared to September (+ 10% against + 26%, respectively).
In total, in October, the top 5 stablecoins have increased almost $ 2 billion in capitalization.
The decentralized finance (DeFi) market is doing much worse, whose trading volumes in October decreased by $ 9.4 billion.
Who was best able to cope with the fall of the DeFi-market – read the recent material from BeInCrypto.
Despite the negative
October was also marked by a loud reduction in the market share of the cryptocurrency exchange BitMEX, which was at the center of a scandal after criminal charges by the Commodity Futures Trading Commission (CFTC) and the US Department of Justice. CoinGecko believes that the majority of BitMEX clients after a high-profile conflict with the CFTC switched to Binance and Bybit, which further strengthened the dominance of the two exchanges in the cryptocurrency market..
The editorial staff of BeInCrypto previously wrote that, according to some clients of the exchange, the executives of BitMEX, represented by Arthur Hayes, Semuel Reed and Ben The case, illegally withdrew over about $ 440 million.
Meanwhile, the bitcoin price managed to break through an important psychological barrier, reaching a maximum since January 2018.
On moment of writing the cost of bitcoin in the BTC / USDT pair is $ 15,575 (+ 8% per day). Thus, the bitcoin rate updated almost three-year highs, holding above the $ 10,000 mark for more than 100 days..
When was the last time bitcoin showed such results, and what they led to – read the special material BeInCrypto.
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