Crypto market review. October 2019
This week, several factors contributed to up to $8500 an increase in the price of Bitcoin📈
Here are a few reasons why it happened:
№1 Local BTC growth above $ 8400 may be due to Trump expanding the “blacklist” of few Chinese companies, with a possible ban on investment in Chinese business from the USA and with the fall of the traditional market.📉
№2 It is also possible that the market believed in BitWise ETFs after the words of the company’s management that they are “They were so close than never before”.
➖ First of all, one should remember the words of officials that “the candidates have still to work hard to get the approval of the SEC”
➖ A potential ETF will affect the money supply in the market even more slowly than Bakkt, from which everyone expected a sharp rise.
But ETF from BitWise, was declined🤷♂️
№3 A possible BTC growth driver is p2p for the Chinese from Binance.
🔥 The exchange token(BNB) has definitely risen in price, therefore, and perhaps there is some optimism for BTC as well.
№4 From the real positive field there is a clash of the Indian Parliament with the Central Bank of this country.
🙅♂️ Lawmakers have opposed the ban on cryptocurrencies and want to jointly develop legislative acts to open up legal opportunities for doing cryptocurrency business in the country.
№5 Microsoft and Intel sponsored a long-term reward and penalty program for developers and startups that are part of the Enterprise Ethereum Alliance (EEA).
➖➖➖➖➖
All of the above may be a coincidence. ☝️
Often it happens that behind the rise or fall of BTC are just manipulations. And in such moments you need to be very careful.⚠️
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Published at Fri, 11 Oct 2019 13:00:22 +0000
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