Uptober Is Great so Far – Moonvember Next for Bitcoin?

For the past week (and a bit more), Bitcoin has managed to beat expectations and stay in the $20,000 trade range. The so-called ‘Uptober’ optimism has been holding ground, with many major investors and market participants buying into the idea that the price will remain over $20K. For the first time since July, Bitcoin closed a monthly candle in the green. It is currently trading close to $20,500, so while there have been no major developments, the stabilization is a good thing.

It’s clear that volatility in the market has settled right now, making BTC trading a bit of boring. Which isn’t necessarily a bad thing. Crypto fans believe that Uptober was just the beginning, with Moonvember coming next. A breakout is way-past due, and we may be seeing it soon.

No Bullish Momentum…Yet

Bitcoin’s lack of volatility is a good thing. There were many predictions about major price drops down to $12,000 by the end of the year, but Uptober messed it all up and we’re glad. The price is pretty stable right now, although a far cry from the legendary November 2021 run. However, after almost a year of setbacks, the price has settled in the $20,000 range, which is obviously a sign that volatility has settled too.

Both stocks and cryptocurrencies are down sharply this year. Last week, Bitcoin’s 20-day rolling volatility fell below the NASDAQ and S&P 500 indexes for the first time in around two years. As the Fed’s interest rates continue going up and with a strengthening dollar on the horizon, it’s not that much of a surprise. Bitcoin was never imagined as an asset that relates with stocks, but their dependence increased as institutional investors started pouring money into crypto.

Due to all of this and some technical pointers, it’s clear that the bearish market isn’t over yet. A bull run is coming—sooner rather than later—but it may be too early as of right now. For many investors, the eased volatility is a great sign. It means that the price is bottoming out just like it did in 2015, which was followed by a bullish pattern. We all know that when prices start rising they could hit amazing new heights, and that’s the reason why experts invest a 180 turn.

The End to a Long Crypto Winter?

While it’s too early to say it’s the end of the crypto winter, the latest signals have been very positive. It’s not just Bitcoin – Dogecoin of all cryptos has led the recent rally. However, the crypto winter was largely a result of tight monetary policies by the Federal Reserve and after a few years with the Coronavirus restrictions and the still-ongoing Russia-Ukraine war.

The ice, however, is beginning to thaw, and we might be nearing the end of the long and hard crypto winter. Everything’s looking up at the moment. Mastercard has just announced a brand-new service that will help banks to offer crypto trading. Visa has partnered with leading crypto exchange FTX to offer debit cards to users’ trading accounts. It shows that the world is starting to change, and as more institutions and countries accept Bitcoin and crypto, the crypto winter will end.

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