Bitcoin Big Move Expected By Mid-December!

Bitcoin as well as the US stocks have performed well in October 2022. While, investors are seeking at how the assets may conclude this month because of tensions about constant inflation and a faltering international economy. Bitcoin has been range bound from the past two weeks, trading primarily between $19,000 and $20,000. Remaining cryptocurrencies were witnessing a same slump, with Ether down 0.25 percent and altcoins such as Cardano, Solana, and XRP all experiencing falls of 1% - 3% over the past day.

According to Coinpedia, a classic indicator offers indications that have only occasionally been seen in the past, volatility for bitcoin may not materialize for certain time. As the co-founder of the trading platform called DecenTrader, Filbfilb, noticed that the Bollinger Bands for Bitcoin continue to contract on weekly periods, approaching extremely high levels. As a result, an on-chain analytics resource called Material Indicators starter to believe that the resistance would still exist.

Coinpedia also mentions about, in spite of industrial data from the United States that the CEO and Founder of trading business Eight, Michael Van De Poppe, described as "Way worse than expected, " BTC had a downward trend on the day. According to Van De Poppe, the sell levels to beat, are $19,600 and $20,700. Furthermore, the CEO also observed that the dollar and United State bond yields were displaying a little weakening.

The company states that in spite of sparking a minor rally, the BTC price has been stabilizing over the weekend. Because sellers sell off their assets, this decision stays being reversed. Over the weekend, the bullish movement might be a sign of better things to come. Without any apparent direction, the BTC price is still consolidated closer to $19,000.

 

[sincerem]

I don't see Bitcoin moving that high this year, since their is no blockbuster investment coming through it. According to the information gathered online which said, many are pulling their investment out around Bitcoin. Remember, the more users are withdrawing their investment from Bitcoin, it decreases it's liquidity, it affects the overall price performance, that's the reason why the coin is still bearish. It's been moving withing 19,600$ - 19,200$ in the past 30 days now,, and not showing signs of moving past it. But when it comes to cryptocurrency investment, we can't say never, we are just given our own thoughts, the developers of the coin knows the real future of the coin. The know when the coin is set for bull, and at same time set for bear. But at the moment, the coin is still bearish, but operating on a resistance of 19,000$, it will take a while before we see Bitcoin moving past 20,000$ in the future.

 

[Suba]

Although it seems that the adoption of retail investors and new crypto players is also enlivening the crypto world, but in my opinion, the price of Bitcoin until the end of 2022 will not move far from $20k. Even many news sources say that the price of Bitcoin will drop to the level of $13k. Currently all experts will be very difficult to predict because the fundamental factors are too difficult to analyze.

 

[Shaf]

Things are really interesting now in cryptocurrency. Most people never imagined that Bitcoin would be at this price as they waited for $100k.

One thing with the market is that it does what it wants to at any time, and when majority are expecting it to go up, it may most likely come down.
Looking at current macroeconomic conditions, things may not get better as inflation and unemployment figures and also interest rates keep on rising.

Technically, we may be seeing some accumulation, but a lot of people say they think price would go lower and have orders at $14k to $10k. This means a lot of liquidity there, and it will give whales an opportunity to accumulate at even lower prices.

Other altcoins have features suggesting that we have reached a bottom, but there is still a strong monthly support area that has not been touched yet that we may need to reach to have a proper bounce.