Bitcoin
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Some time ago, bitcoin quotes reached $21,000. Unfortunately, the buyers failed to consolidate a positive result, however, the flagship of the crypto market continues to trade above the key level of $20,000. According to experts, buyers are in full control of the situation at the moment.
Kitco News analyst Jim Wyckoff noted that technically bulls are dominating bears. The specialist does not rule out that in the near future consolidation may form on the market before the quotes enter the phase of a stable growing trend. Wyckoff also suggested that it is possible that Bitcoin will experience some increase in volatility in the coming weeks.
As for the fundamental situation, the attention of investors is focused on the upcoming Fed meeting, which will be held on November 2 this year. Almost no one had any doubts that the US regulator would raise the refinancing rate by 75 basis points.
Investors will also evaluate the Fed’s future actions regarding its monetary policy. Many experts point out that excessively aggressive actions of the Central Banks can provoke a recession in the global economy.
Earlier, the editors of Crypto.ru informed: experts assessed the situation in the Metaverse segment. According to experts, many startups in the Metaverse sector will grow tenfold next year. ICB Fund representative Aaron Chomsky noted that much will depend on the dynamics of bitcoin. It is BTC that acts as the main driving force in the crypto market. As soon as it enters the phase of a stable bullish trend, it will favorably affect the rest of the crypto world.
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