30s Summary

Bitcoin faced fluctuations, struggling to sustain its value above $60,000, and investor behaviour is creating a consistent pattern of buy-low-sell-high. Despite the uncertainty, demand is high, with US Bitcoin investment funds attracting $253.6 million in a single day. Concurrently, analysts suggest rising interest in ‘altcoins’. The article also analyzes the performance and potential trajectory of lesser-known cryptos Sui, Aptos, Bittensor and Dogwifhat, detailing their most recent trends and potential future movements. Cryptocurrency investments, however, always come with an element of risk.

Full Article

Bitcoin, commonly known as BTC, recently bounced back from a dip below the $60,000 mark. But, it’s having a difficult time keeping its price up. We see a pattern of investors buying Bitcoin when its price drops and selling when the price goes up, suggesting that Bitcoin’s price may not change drastically in the near future.

Despite this, there’s still plenty of demand for Bitcoin at these lower price levels. As an example, in the US, Bitcoin investment funds saw a whopping $253.6 million pumped in just on October 11, after three days of people pulling their money out.

Bitcoin’s price has been sort of going sideways for a while now, but some experts are saying good things about rival cryptocurrencies. There are some indications that so-called ‘altcoins’ might only be going up in the near future. If Bitcoin can stay above $60,000, we might see traders switching their focus to other promising cryptocurrencies. Let’s take a look at the top 5 most promising ones.

Bitcoin surged above the average price of the past 20 days ($62,119) on October 11, but it wasn’t able to make it to $65,000, much to the disappointment of bullish traders. Right now, sellers are trying to bring the price back below the 20-day average. If this happens, we might see the price drop to around $60,727, which is the current 50-day average. If the price dips below $60,000, we could be looking at a drop to $57,500 which isn’t great news for Bitcoin fans.

On the other hand, if Bitcoin bounces off the 20-day average, this means that the bulls are not discouraged by the price dips and we could see a price hike to $66,500. If they succeed in pushing past this resistance, Bitcoin’s price could shoot up to $70,000.

Now let’s move on to Sui, a lesser-known crypto that bounced off its 20-day average of $1.82 on October 11 and broke through the $2.18 resistance ceiling the next day. If the bulls can keep the price above $2.18, this could kickstart an upward trend to $2.50 and then continue to $3.

Similarly, the price of Aptos is stuck near a resistance level of $10.50, but if this ceiling can be broken, the value has the potential to skyrocket to $14.50. However, if the price drops below $9.50, we might see a dip to the 20-day average of $8.48.

On another note, Bittensor has been on an upward trajectory the past few days. If the sellers continue to resist the movement to $680, it’s possible we could see a value hike to a resistance level of $760. However, if the price dips below the 20-day average of $560, there could be a drop to $489.

Lastly, Dogwifhat successfully passed the breakout level on October 10, and the price could potentially break through $2.89 and surge to $3.58 and even $4. Keep an eye on the 20-day average of $2.34, if the price falls below this, sellers may panic and cause a drop to $1.90.

Remember folks, buying crypto always comes with risk, so it’s essential to do your own research before making a decision.

Source: Cointelegraph