Bitcoin sets a monthly closing record, and the price of Bitcoin is still below the “worst-case scenario”


Bitcoin (Bitcoin) The $60,000 support level was retested on October 31, a few hours before the key monthly close.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Monthly shutdown pending through thread recording

Data from Cointelegraph Markets Pro with Transaction view The price trend was flat on Sunday, with BTC/USD lower than the “worst-case scenario” at the close of October.

Analysts are eagerly waiting for the end of the month to turn the situation around, and for the third consecutive month to prove the worst-case theory is correct.

Its creator, PlanB, the father of the inventory-to-flow model, Got it right The August and September finals will be 47,000 USD and 43,000 USD respectively.

However, even if it did not succeed, it ended in October with a price of more than $60,000, which in itself is a number of accomplishments.

Just like the previous Cointelegraph famous, Bitcoin’s performance on Sundays this month tends to be weak, and on Monday contrasts sentiment and strength performance-especially in the US Open.

“BTC Daily says to be ready for November,” popular trader and analyst TechDev Summarize On that day, the focus is on the next month.

BTC/USD 1-month candlestick chart (Bitstamp). Source: TradingView

Shiba Inu ends the slowdown of altcoins

With the depreciation of Bitcoin, altcoins have staged imitative actions, and the top ten cryptocurrencies by market value have experienced a slight decline in the past 24 hours.

related: As Ethereum pushes a new record of altcoin market value, Bitcoin closed at more than $60,000 in the third week

Shiba Inu (SHIB) Star The decline in the past week has been even greater, with a drop of 13% at the time of writing, but it is still up 45% each week.

Emotional imitation lacks upside space, Crypto Fear and Greed Index In recent days, he has shown declining “greed”.

Crypto Fear and Greed Index as of October 31. Source: Alternative.me