Our editors have conducted a study and assume that the bitcoin rate by the end of October 2022 will be $18302.65. Read more about the events and opinions based on which the forecast is based, read further in our article.
Bitcoin owners, as well as those who want to acquire this cryptocurrency, are certainly wondering – is it worth selling or buying Bitcoin in the near future? What will be the further dynamics of the value of the world’s most popular cryptocurrency in the coming autumn and is it worth selling it now? Let’s consider these questions and analyze possible options for the development of the situation in the electronic money market.
The attention of all investors and most other market participants in recent months has been especially riveted to bitcoin, which has been showing the largest drop for almost a year. Since November of last year, when the crypto coin reached its historical maximum value, there has been a rollback. Sharply breaking through the resistance and support zones, Bitcoin has been trading in the range of $18,500-$47,000 since the beginning of the year.
Let’s analyze bitcoin forecast for october 2022 year, based on the state of the global economy as a whole.
What can affect bitcoin in October?
The stagnation of American stock indices is one of the key factors affecting the bitcoin rate. If at the beginning of the year the indices were at a historical maximum, then by the summer they sank noticeably.
Among the positive aspects, it can be noted that the world situation has led to total inflation in many states. Due to inflationary risks, there is a special interest in investing in cryptocurrency markets.
The main factors that can significantly affect bitcoin price in october 2022the following can be distinguished:
- positive or negative news voiced by well-known crypto owners;
- the speed of distribution of Bitcoin as a payment method;
- indicators of safety and comfort of investors;
- possible risks voiced by influential sources;
- information about trust in cryptocurrency from persons involved in production and investment;
- the level of supply and demand.
If you look at the rate chart, you can see that in the first half of the year there was a fall, which ended by mid-June. It was from this moment that the technical schedule of jumps became noticeably smaller. The sharp downward momentum slowed down and mini-cycles began, which slowly but surely stabilized the price of bitcoin.
As long as inflation is at its highest levels in 40 years, Bitcoin is likely to form a bottom and resume its upward trajectory. Inflation continues to devalue fiat currencies.
Speed and efficiency in the banking and financial industries can be tied to a new medium of exchange – cryptocurrency, which in the near future will generate interest in cryptocurrency markets. If we evaluate bitcoin forecast for october 2022 year, then during this period the restoration of lost positions may begin, which inspires moderate optimism.
Experts’ Assumptions for October
Despite the fact that the BTC rate has been gradually sliding down in recent months, it does it very gently and delicately. According to experts, if the resistance at $20,000 is not broken, then the cryptocoin will stop getting cheaper. Everything will depend on the real participants of the cryptocurrency market.
There are other points of view. For example, the COO of Green Crypto Processing, Ivona Gutovich, is sure of the opposite. The expert suggests that the risk of Bitcoin falling and reaching new lows, which will be in the range of $9-12 thousand, should not be discarded.
Table of the bitcoin exchange rate in October by day
Actual bitcoin price forecast for october 2022 can be shown in the form of a table:
What will be the price of bitcoin in October? Even experts cannot give a definite answer to this question. Analysts are leaning towards growth, but so far their opinions have been voiced with caution. Having studied our assumptions, we can get some idea of how Bitcoin will behave in October, which will allow us to take the necessary actions.
The materials presented in this section do not constitute individual investment advice.