Bitcoin is on track for one of its worst October performances since 2013. Historically, previous bull market years have offered a minimum of 40% gains during this period, making the current trend notably disappointing for investors.
Looking ahead, the Federal Reserve may provide a last-minute reprieve at its meeting next week. According to Peterson, the outcome of the Fed’s October 29 meeting could deliver a “huge signal” for markets, potentially influencing Bitcoin’s trajectory in the near term.
As reported by Cointelegraph, there are growing expectations that the Fed will lower interest rates despite a lack of new inflation data. Such a move would likely create more favorable conditions for cryptocurrencies and other risk assets going forward.
Please note, this article does not contain investment advice or recommendations. Every investment and trading decision involves risk, and readers are encouraged to conduct their own research before making any financial moves.
https://cointelegraph.com/news/worst-uptober-ever-bitcoin-price-risks-first-red-october-in-8-years?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound