In this week’s The Market Report, Cointelegraph’s resident experts discuss how much longer this crypto bear market could last and when we might see some volatility in the markets again.
To start, we analyze the latest market news this week:
Bitcoin Price Approaches $20,000 as “Much Worse” US Data Drives Stocks Up
Risk assets look poised to rally after Empire State Manufacturing Index figures for October missed expectations. The figures fell to -9.1 in October, well below the -4.3 forecast and September’s -1.5 reading. Some industry analysts consider this to be much worse than expected, but could this send Bitcoin (BTC) higher in the near future?
Bitcoin Holds on to $19,000 as Trader Promises Capitulation ‘Will Happen’
Bitcoin remained rigidly pegged at $19,000 at the weekly close on Oct. 16 as analysts warned that volatility was yet to come. After US economic data triggered a series of signature false events throughout the week, Bitcoin returned to its original position and shows no signs of breaking out of its established range. When will volatility return to the markets and bring with it some excitement?
Bitcoin Will See the $12,000 Level If This 2018 BTC Chart Fractal Is Correct
Bitcoin’s buildup during the 2022 bear market looks stronger than it did in 2018, but macro headwinds could crash the party this time. While Bitcoin investors may not consider the US midterm election a significant event, an unsettling fractal from 2018 may provide a clue as to what could happen before the year is out.
Our experts cover these and other developing stories, so be sure to tune in to stay up to date on the latest in the world of cryptocurrencies.
Below is a segment called “Quick Cryptocurrency Tips,” which aims to give newcomers to the cryptocurrency industry quick and easy tips to get the most out of their experience. This Week’s Tip: Relative Strength Index (RSI)
Below, market expert Marcel Pechman takes a closer look at the BTC and Ether (ETH) markets. Are the current market conditions bullish or bearish? What are the prospects for the coming months? Pechman is here to break it down.
Lastly, we have the vision for Cointelegraph Markets Pro, a platform for cryptocurrency 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.
Do you have a question about a coin or a topic that hasn’t been covered here? Don’t worry. Join the YouTube chat room and write your questions there. The person with the most interesting comment or question will have a chance to win a $50 gift voucher to the Cointelegraph Merchandise Store.
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