Home Bitcoin News Analysts called the reason for the rise in price of bitcoin in October

Analysts called the reason for the rise in price of bitcoin in October

by admin

Crypto News

Reading time: ~2 m


According to B2C2, in recent weeks, the over-the-counter cryptocurrency market has been actively shifted towards buyers, while retail investors on crypto exchanges prefer to sell the main digital asset.

In early October, the value of bitcoin increased by almost a third as a result of increased demand for the asset from institutional investors, The Block reports, citing data from the analytical company B2C2. Analysts say that in recent weeks the market has been “actively shifted towards buyers.”

Analysts called the reason for the rise in price of

Photo: The Block

B2C2 notes that in the period from October 3 to October 10, the balance of trading on cryptocurrency exchanges was shifted towards sales (57.4%), which indicates mass sales of the first cryptocurrency by retail investors. Over the same period, the balance of over-the-counter markets shifted towards purchases (54.8%). Analysts claim that this indicates the accumulation of cryptocurrencies by large investors.

Since the beginning of October, bitcoin has risen in price by 32%. The cost of the first cryptocurrency on October 12 exceeded $57.8 thousand for the first time since May. In October, bitcoin’s capitalization exceeded $1 trillion for the first time in the last five months.




#Analysts #called #reason #rise #price #bitcoin #October

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.