What will happen to BTC in the last months of the year and at the beginning of 2023, also considering the macroeconomic moment?
The prolonged worrying moments for bitcoin, the cryptocurrency market as a whole and the global macroeconomy, with the prospect of an October of more drops, are making everyone question: how big is the hole? Where should BTC and the crypto market go in the coming months?
Bitcoin and the short-term crypto market
Historically, the month of October is usually positive for bitcoin, which in the last nine years had only two with a low close and if this trend continues, it could help the entire crypto market, which is going through a period of little volatility in its prices.
However, the global macroeconomic scenario, with increasing instability in leading markets such as the United States and the United Kingdom, does not allow us to have any other prospect than the downturn and stress of the markets, which are increasingly heading towards an apparently inevitable recession. .
Attempts to control inflation by raising interest rates should go to the limit, and only when this persistent rise in inflation begins to be controlled will we be able to see an upward bias.
On bitcoin, this will likely translate to a dip during the month of October, with a strong bearish predominance and BTC seeking support in the $12,500-13,000 region. For those who are long-term in the market, this fund will be a good opportunity to acquire bitcoin in these price ranges, considering the possibility that we will not see these numbers again after the bull cycle resumes.
It is also important to follow the movements of short-term investors and owners of large bitcoin wallets, who usually govern the course of the market and provide liquidity with their trades.
a mature market
On a more positive side, the resistance presented by the bitcoin price during the last few years, with serious global events such as pandemic and wars, shows a strong maturation not only of the “king” of cryptocurrencies in relation to previous cycles, but of the entire market. of digital assets, which has become quite robust against more traditional markets.
We can see good consequences of this maturity in the growth of the creation of BTC wallet addresses, evidencing the arrival of new users and an increase in the trading volume of the coin.
Another strong indication of the robustness of the crypto universe is the growth of stablecoins, which currently rank 4 out of the 7 cryptocurrencies with the highest market capitalization, in a discreet shift from physical money to the digital environment. Who also enters this discussion is bitcoin itself, which is even starting to be considered a stablecoin in the face of the volatility of fiat currencies.
After the month of November, in which there should be a new increase in interest rates after the Federal Reserve Bank meeting, the end of the year and the beginning of 2023 indicate a deceleration of the Fed, which will be crucial for the resumption of the cycle of highs in the bitcoin. The period of December and January historically sees BTC coming out of the low and returning to growth, taking with it other good crypto projects that take the opportunity to evolve.
As of November, we should start to have some clearer signs of a possible reversal in the market. For now, it remains to take advantage of the buying opportunities that the bear market provides and wait for the right time to profit in the bullish cycle.
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