In September 2020, BTC lost 8% of its value and moved into another month not on a positive note. But, as practice shows, bitcoin usually returns its lost positions.
What are the forecasts for the future, what will the Bitcoin forecast for October 2020 be? If we talk about the expectations of investors, they believe that the cryptocurrency will go up in October, and there will be an active growth in the next month. This is confirmed by statistics from 2011 on the behavior of the rate of digital coins.
Bitcoin’s position will improve in October, according to Crypto trader Michaël. And the Ecoinometrics project team reports that bitcoin is significantly behind the expected trajectory of movement. According to trader Tony Weiss, the prospect of further movement of BTC is an exit into a correction. And for the deployment of an active scenario, a digital coin must pass the $ 11 thousand mark. In addition, Tony Weiss noted that the upcoming presidential elections in the United States will affect the behavior of the military-technical cooperation.
In turn, an economist who criticizes Bitcoin, Nouriel Roubini, said that the election of a Democrat in the United States earlier pushed the stock market to grow three times than the head of the Republican country. The expert believes that the cryptocurrency has every opportunity for growth if Democrat Joe Biden wins. The representative of the Republicans, Donald Trump, as statistics show, can cause a fall in the stock market, and then in the digital asset market.
According to some members of the crypto community, you need to invest in bitcoin without paying attention to the election results. And according to investors, the signal for the acquisition of MTC was just the advantage during the debate of Joe Biden over Donald Trump. In addition, many members of the crypto community say that technical analysis data indicate the prospects for growth in the cryptocurrency rate in the near future.