This week in a market report, resident Cointelegraph experts discuss why Bitcoin (
BTC

knock
20,003 dollars

) whales are piling up now, and why that might matter. Could this lead to the next climb up round?

To get started, we share the latest news in the markets this week:

Least Volatile Ever – 5 Things You Need to Know About Bitcoin This Week

October 2022 has yet to prove itself as analysts anticipate “wild” Bitcoin price swings in November. Bitcoin started the last week of the “Uptober” with a medium stable mood as the trading zone continues until the end of all trading zones. Could this mean that a major change of direction is about to occur? This week is expected to be another important week with the release of the US Personal Consumer Spending (PCE) for September. The US Federal Reserve will meet next week to decide whether to raise prices based on specific inputs, including personal consumption expenditures and the consumer price index. The market is currently expecting another 75 basis point rise, but what will the actual numbers be and how will they affect the market?

What happened to all the ‘Aptober’ noise? So far, it has not yielded results compared to October 2021. Some analysts are hoping for a sharp reversal in November, but there is nothing Bitcoin can do if it ever reaches an all-time high.

Bitcoin Will Rise In 2023 – But Be Careful What You Wish For

The Bitcoin community is divided over whether the price of the token will rise or fall in the next year. Most analysts and technical indicators are suggesting that it could drop to $12,000-16,000 in the coming months. This is related to the volatile macro environment, stock prices, inflation, federal data and, at least according to Elon Musk, a possible recession that could last until 2024. It could go up to $80,000 and above. There is evidence to support both sides. We discuss what the next year could bring to Bitcoin.

Our experts talk about these and other cutting edge stories, so be sure to sign up for our newsletter to keep up with the latest happenings in the crypto world.

Next up is a segment called “Brief Crypto Tips” which aims to provide newcomers to the crypto industry with quick and easy tips to get the most out of their experience. Tip of the week: Moving average.

Finally, we have information from Cointelegraph Markets Pro, a platform for cryptocurrency traders who want to stay ahead of the market. Our analysts use Cointelegraph Markets Pro to identify a couple of cryptocurrencies that have emerged this week, so be sure to tune in to find out.

Do you have a question about a currency or topic not covered here? do not worry. Join the YouTube chat and ask your questions there. The person with the most interesting comment or question will get a chance to win a monthly subscription to Markets pro.

The Market Report goes live every Tuesday at 12:00 PM ET (4:00 PM UTC), so be sure to visit the Cointelegraph YouTube page and hit the like and subscribe buttons for all of our future videos and updates.

Source: CoinTelegraph

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