BTC is preparing for a record end of the month, even if the Bitcoin price is below the “worst-case scenario”

Bitcoin (BTC) price retested the support of $ 60,000 on October 31st, in the absence of a few hours for the crucial month-end closing.

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

The record end of the month hangs by a thread

Data from Cointelegraph Markets Pro and TradingView showed a lackluster price development on Sunday BTC / USD under worst case scenario for October close.

Analysts waited eagerly to see if the end of the month could turn the tide and prove the worst-case theory to be correct for the third month in a row.

BTC is preparing for a record end of the month, even if the Bitcoin price is below the “worst-case scenario”
BTC is preparing for a record end of the month, even if the Bitcoin price is below the “worst-case scenario”

Your creator, PlanB, the father of the stock-to-flow model, hit $ 47,000 and $ 43,000, respectively, in late August and September.

But even without getting it right Over $ 60,000 in late October would mean several accomplishments in and of themselves.

If Bitcoin closes above $ 60,000 a week tomorrow, it would be the 3rd week in a row …

It would also be the first * MONTHLY * closing price above $ 60,000 in history.

As Cointelegraph noted, Bitcoin performance was weaker on Sundays this monthin stark contrast to the mood on Monday, which has shown strength above all in relation to the openness of the USA.

BTC daily chart says get ready for November“, calledPopular trader and analyst TechDev on the day that focuses on the next month.

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

Shiba Inu ends its rally by slowing down altcoins

Altcoins staged copycat movements as the price of Bitcoin fell, and Top ten cryptocurrencies by market capitalization posted modest losses over the past 24 hours.TO

Shiba Inu (SHIB), the star of the last week, lost more, currently 13% less, but still with weekly gains of 45%.

The feeling mimicked the lack of ups, with the Crypto Fear Greed Index showing a decline in “greed” in recent days.

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

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