Bitcoin (BTC) Price Won't Hit $300K – Predicts Popular Economist Mohamed El-Erian

Bitcoin's price fell from its peak of $69,700 to the current average of $19,500. Investors were undoubtedly affected by this 72% price decline, especially those who chose not to liquidate their holdings. As prices continue to move in a sideways trend, the excitement for an impending bull run has begun to fade.

Timeline of Bitcoin

Bitcoin and Ethereum were seen trading in the red on Monday evening, even as the global cryptocurrency market cap inched up 0.07% to $1 trillion at 9:15 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) -0.5% 5.9% $20,470.95 Ethereum (CRYPTO: ETH) -0.9% 16.9% $1,572.28 Dogecoin (CRYPTO: DOGE) 0.6% 111.3% $0.125 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Chain (XCN) +26.6% $0.06 OKB (OKB) 6.7% $17.22 The Sandbox (SAND) +4.5% ​​$0.90

The current Bitcoin price is $20700 as a result of yesterday's significant price increase and the subsequent bullish momentum over the last few hours. Thus, we anticipate BTC/USD will continue to rise and aim for the next resistance level of $21,000.

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has wished Satoshi Nakamoto's Bitcoin whitepaper a happy birthday. “It has led to innovation and crypto asset investing. Let's make sure as crypto enters its 15th year that investors get proper protection,” said the SEC chairman.

London-based Bitcoin mining group Argo Blockchain's plan to raise $27 million from a strategic investor has failed to take place. The London Stock Exchange today published a press release notifying that Argo no longer believes that this subscription would be consummated under the previously announced terms.

The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting.

The Bitcoin Whitepaper, the document that presented the first cryptocurrency to the world, is turning 14 years old today. Investors, community members, developers, and others celebrate this event across social media platforms.

Widely followed crypto analyst Benjamin Cowen says incoming inflation data could largely influence the trajectory of Bitcoin (BTC). In a new video, the analyst tells his 771,000 subscribers that interest for Bitcoin will likely come back if the price of the top crypto asset breaches the bull market support band.

Today's on-chain analysis looks at several indicators that show the relative level of unrealized losses and profits that investors are recording in the ongoing bear market. The post Unrealized Losses and Profits Signal Ongoing Accumulation of BTC Price appeared first on BeInCrypto.

During the European session, Bitcoin price is trading choppy near $20,350, struggling below the 61.8% Fibonacci retracement level of $21,000. The buyer-seller tug of war continues ahead of the FOMC and Fed Fund rate decision on November 2. As a result, it keeps volatility in check.

In this episode of NewsBTC's daily technical analysis videos, we examine Bitcoin price action on Halloween night to see if the market is in for any tricks or treats. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 31, 2022 The forecast for Halloween night is cloudy with a chance of consolidation, according to the Ichimoku.