Bitcoin Price and Ethereum Prediction – BTC to Hit $21,000 Before FOMC and Fed Rate?
The Bitcoin price is trading in the green during the Asian session, near $20,534 after bouncing off the $20,265 support level. Similarly, Ethereum has increased by less than 0.50% to $1,594 and is on its way to the 78.6% Fibonacci retracement level.
The worldwide crypto market cap gained over 0.50% to $1.01 trillion in the previous day, putting major cryptocurrencies in the green early on November 1. Over the last 24 hours, overall crypto market volume climbed 22% to $87.63 billion.
The overall volume in DeFi was $4.01 billion, accounting for 4.50% of the total 24-hour volume in the crypto market. The entire volume of stablecoins was $81.34 billion, accounting for 92% of the overall 24-hour volume of the crypto market.
Overall, the market is trading risk-on ahead of the US Federal Reserve's monetary policy and rate decision later this week.
Chain (XCN), Dogecoin (DOGE), and Shiba Inu (SHIB) were the top performers in the last 24 hours. XCN price has increased by more than 25% to $0.06, while DOGE's price is up by nearly 15% to $0.14. At the same time, SHIB has gained more than 5% to trade at $0.000012.
Toncoin (TON) has dropped more than 8% to $1.50 this week. Klaytn (KLAY) is down more than 5% to around $0.26, and Algorand (Algo) is down about 4% to $0.3479.
Investors in the risky bitcoin market frequently exhibit excessive emotional reactions. Affluence might encourage people to act in ways they later regret when the market rises (fear of missing out). Furthermore, the sight of red numbers frequently motivates people to sell their coins for illogical reasons.
The Fear and Greed Index exists to keep you from making irrational judgments based on your feelings.
The cryptocurrency market remained in "fear" mode on Tuesday, with
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