Market Analysis by Richard Salmond covering: Bitcoin. Read Richard Salmond's Market Analysis on Investing.com
is hovering around $59,000. Over the first few days of the month, it dropped by around 8%. After hitting $64,000 briefly, it fell back below $60,000.Many traders were optimistic at the start of October, expecting it to follow historical patterns of cryptocurrency growth in this period. However, by October 10, Bitcoin has reverted to earlier values, despite briefly peaking at $64,000 on Monday, October 7.
Cryptocurrency markets are often sensitive to trader expectations, especially around key events. Even though the Federal Reserve meeting isn’t until November, anticipation will likely start impacting trading activity soon.
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