Bitcoin Price and Ethereum Prediction – BTC Could Target $20,000 If Breaks Above This Level
Major cryptocurrencies were trading slightly higher early on October 23, with the global crypto market cap at $923 billion, up more than 0.5% from the previous day. In the last 24 hours, the total cryptocurrency market volume was $32 billion, a 39% increase.
The leading cryptocurrency, Bitcoin, is consolidating near $19,216, having gained less than 1% during the Asian session. BTC has formed a symmetrical triangle pattern, and a breakout of this triangle will determine the price action moving forward. Ethereum, on the other hand, is on the rise, having risen more than 1% to trade at $1,313.
The top performers in the Asian session were Bitcoin Gold (BTG), Aptos (APT), and Huobi Token (HT). Bitcoin Gold (BTG) has gained over 11% to $18.35, while the price of APT has risen by over 29% to $9.59. Moreover, the Huobi Token price rose over 11% to $8.70.
The Chain (XCN) price has fallen by more than 5% in the last 24 hours to $0.058. The price of Maker (MKR) has dropped more than 3% to around $990.
Investors continue to avoid taking any chances and are instead buying gold and the US dollar. One possible explanation for the recent market lull in cryptocurrencies is that the market's fear and greed index is currently reading "Extreme Fear."
Because many cryptocurrencies are oversold right now, "Extreme Fear" is seen as a good time to enter the market and go long on an oversold coin. Perhaps that's one of the reasons behind the uptrend in Bitcoin and Ethereum.
As reported by cryptocurrency analytics source Kaiko, Bitcoin's volatility has decreased below that of the S&P 500 and Nasdaq. Cryptocurrency markets, the business argued, have grown less sensitive to risky macro events, including high inflation, an appreciating dollar, rising
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